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Disaster recovery using Veeam Endpoint Backup Beta V 1.0

NOTE: I have a Cisco EA3500 router with a 4TB HD connected to it's USB port.  This is my network drive.

I recently downloaded and installed Veeam Endpoint Backup Beta V 1.0.  I choose this because I saw that it was recommended by a few experts on the website.  It installed and created an initial system backup to my network drive with no issues.

My question is regarding disaster recovery in case I ever need it.
From what I understand, I would need:
 - A fully functional computer with at least Windows 7 and the Veeam software installed.
 - After that I could browse the backup for the files I wanted to recover.

In other words a "bear metal" recovery is not possible with this solution.

Watch Question

Read this blog post from Mike Resseler, Veeam Endpoint Backup Free expert - http://www.veeam.com/blog/announcing-veeam-endpoint-backup-free.html Comments might be interesting too.

As it's written in the post, "The possibilities to recover range from simple files (overwrite or keep the original files), volume restore or a bare metal recovery."