These two tools are available in the free Android Marketplace to Rogers users in Canada.
Used together, they look like they would provide a safe backup of all data and applications. Please comment/add based on your experience.
Backup for Root users - @Cyrket, official site
- Takes a lot of time
- Doesn't indicate where the backup is made (presumably, SD)
- No documentation
- Lots of backup methods (apps, data, specific databases, etc.)
AppManager @Cyrket, official site
Quickly backs up or restore all applications packages only to SD.