The update to 3.0 was a big change, but they've got through the kinks, and everything seems to be working better now with 3.06. At it's current point, I can say that I've tried more backup plugins than I can count, and this one is the best. -- I use BackWPup with Amazon S3.
As someone else pointed out, yes, the restore process could be better explained, but if you don't have the backup to begin with, you can't muddle your way through the restore (IF you ever have to do it).
Give it a shot. It's free... with just a bit of upsell.