Yes, I have successfully used Acronis in that way. However you have to boot from CD of course, I doubt you can restore over a live working OS. The only other problem I've seen with Acronis is that it doesn't like disks partitioned using the "Windows Dynamic Disk" feature. Legacy MBR partitioning or a completely blank disk is best.
Ah of course there is another problem, which is finding a convenient way to access to the .tib file after you've booted from CD. See this
thread where I discuss the issues.