FYI...
For Windows 7 (and presumably, Windows 8), this is called making a "System Image". It's built right into windows under the Backup section of the Control Panel. The image can be restored to a completely empty drive (of the same size or larger...that's the one catch) from your Windows install DVD or by making a "System Repair Disk", which option is available in the same place.
As always, when you're trying a new backup solution, make sure you know how to restore from it before you need it, especially since some RAID controllers (including Intel's built-in RAID controller) and some external enclosures may need drivers that need to be loaded by the restore program.
--Greg