I'd probably use Hyper V just for backup assist. Don't abandon traditional forms of backup just because you have clones/snapshots. Sometimes you just need to restore a component and not the entire system.

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Then I can essentially clone a VM daily as a backup and essentially not have any downtime while reducing the server's footprint, decrease power costs and server costs.

This is awesome, but I prefer having powerful workstations. Don't mind virtualizing servers though. That's always nice.