I believe Roxio Easy CD Creator 5 has a backup feature, but it’s not cheap.
The Windows 2000 Backup documentation makes it sound like it will let you back up to CD-Rs, but it won’t. I don’t know if this has changed in XP.
I wanted to do all my backups to CD-RW, but I eventually gave up on the idea and got a 30 GB hard drive with a removable rack instead. They’re relatively cheap and the backups run much faster.
You might want to poke around the forums at the Roxio website. Some posts there indicate that there is a way to do it with Take Two and Windows Scheduler.