Backups are just a nightmare to manage.
I need to keep more than one version and also use a batch file but with the amount of data it can take ages. I don't trust online backups as you just don't know what security they have. I also use an external for backup but have everything connected to UPS. It's just the little things that catch you out when you come to restore, some little file kept elsewhere. Example being the autocomplete for email addresses in Outlook 2007 as it's a separate file from the pst. I always feel I'm chasing my tail with backups as it's a continual process.
I was taught that the best way is to keep it simple then you almost always get it back hopefully as quickly and easily as possible!