I just have a list of what I need and what I use, format, reinstall, and go down the list. I never really worry about importing anything except Outlook emails and my DVD database. I Have the My Documents folder on a separate physical D: drive, and the first thing I do is point Windows to it. I use an Outlook addin called Personal Folders Backup, which imports the .pst for me, and Ant Movie Catalog which imports my DVD database. Other than that, the rest is freeware.
As for Steam, it and all the games it contains are also on my separate D drive, I just install the Steam client there, and poof, no downloading needed.
No tedious mucking about with backup or anything, takes me an hour to be back up and running.
Oh! Nice find Schaft! I posted the link for upgrading from RC to RTM, but that little registry trick is NICE. Thanks for that.