[rab] The backup was made with Time Machine, but the restore process was handled by the Migration Assistant. Apart from whatever speed issues there may be, it seems to me that Time Machine works the way that all backups should, ever since disks superseded magnetic tape. You aren't limited to just doing a full restore, you can look at the backup and see all the individual files and access them just like they're ordinary files on a disc, which of course they are, not hidden in some opaque archive format. Automatic hourly backups meant that without having to think about it, when the disk failed I lost no data. Do modern backup solutions for other systems provide this level of does-it-right-ness?
Discs haven't superseded mag tape. The cost factor is with the disc, but in streaming mode tape can beat a spinning disc in speed of writes. Not only that, you might be surprised at how robust the tape market has become since defense in depth backup strategies were developed in the wake of cheap,reliable discs. Of course, it is all about to change again as Flash becomes cheaper and more reliable.
[Rakk] My understanding is that discs can recover lost blocks if they are in the right sort of configuration, and Flash has hardware redundancy built-in for its peculiar fail modes, so I guess the answer is "Yesnabe".