I have a setup similar to mechdrew: I use timemachine to backup incrementally onto 1 partition of a 500GB external drive. on another partition i have a disk utility created image of the OSX install, which is completely bootable by itself from the external drive partition (with the help of the USB boot disk). The dd option is good/easier if you will be porting from, say STEC 64GB to RunCore 64GB, in which case it would just be the commands outlined above (is there a typo in the second one? "od" vs "of"? not sure).
MEch