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I was pleasantly surprised to find out that the version of Windows Server 2008 backup included in SBS 2008 is significantly improved.
There were a lot of ramblings on the Net about the missing option to recover Exchange 2007 running on Windows Server 2008.
Not anymore. Besides the options to recover separate files and volumes, now you can backup and restore applications like Exchange and Sharepoint services. Here is a snapshot:
Watch the high quality, audio enabled screencasts about backup and recovery of Exchange 2007 server in Windows Server 2008 / SBS 2008 at NetoMeter