Tho I haven't tried it to a different HD, you should be able to restore to another partition using the restore commands from pe3 boot media.
Like this:
X:\Windows\system32>WBADMIN GET VERSIONS -backuptarget:d:
Backup target: Fixed Disk labeled APPS(G

Version identifier: 04/26/2010-17:23
Can recover: Volume(s), File(s)
Snapshot ID: {f18b9ea0-b902-43ae-a1b7-446e66113aaf}
X:\Windows\system32>WBADMIN START RECOVERY -version:04/26/2010-17:23 -itemType:V
olume -items:c: -backuptarget:d: -recoverytarget:f:
Retrieving volume information...
You have chosen to recover volume(s) c:
from the backup created on 4/26/2010 9:23 AM to a different location, f:.
Warning: You have chosen to recover a full volume. This will delete any
existing data on the volume you recover to, even if the operation is canceled
or fails. Before you continue, make sure that this volume does not contain
and data that you might want in the future.
Note: If the recovered volume contains applications, you will need to recover
those applications after you recover the volume.
Do you want to continue?
[Y] Yes [N] No
y
Running a recovery operation for volume Vista x86(C

, copied (0%)...
Running a recovery operation for volume Vista x86(C

, copied (99%).
The recovery operation for volume Vista x86(C

successfully completed.
The recovery operation completed.
Summary of the recovery operation:
--------------------
The recovery operation for volume Vista x86(C

successfully completed.
X:\Windows\system32>