That depends on the software you use and how you set it up, not the drive.
The drive comes with Retrospect Express as far as I know. Recommended one to my future father-in-law and he loves it. I believe you can create multiple backup sets with the bundled software, though he does his as incremental to save time. If you don't need to use the One-Touch button to back it up, you can use other more robust software that schedule your backups for you, and create multiple backup sets.
I'd probably be tempted to just use a Ghost boot disk with USB support and make a compressed image every now and then.
Intel Q9450 @3.2GHz, Gigabyte GA EP45-UD3P, 4 x 2GB G.Skill @4-4-4-12
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