I'm just playing around with the new Bitcoin Core wallet, and I've noticed they have an "abandon transaction" feature.

If I click Abandon transaction on the payment I attempted to make earlier - would the coins then be returned to my wallet for me to spend again?

Again, the transaction has not hit the block chain yet, let alone received a confirmation.

I would prefer to do that, if possible, as downloading the entire block chain again will take me awhile.