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If the image backup tool doesn't support incremental backups (many do, but I don't think the builtin tool of Windows 7 does), the best strategy would be to make the occasional image backup, particularly after you have installed new software or made some bigger changes, and alongside that do your normal data backups. This way you don't need too much time and external space for the backups. If your image backup tool supports incremental backups, then that should be enough.