You can get just about the same results with backing up the /etc directory, as that holds the settings for 99% of the programs that have an effect on the system as a whole. Backing up the hidden files in your home directory (the ones starting with a .), will take care of the user settings.
A number of the snapshot programs work by keeping an image of the changes to the hard drive (or parts of it), and then the restore just rolls back the changes.
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