Yes, the program can copy whole hard drive to the image file and then restore it. The program supports the multivolume images, which are splitted in multiple files of a fixed size. The separate volumes can be placed later on any removable media such as ZIP, JAZ, LS120, MODD or CD/DVD-RW.
The latest version of the program (7.x or 2005) allows to place the volumes of the backup image directly to CD/DVD-R(W) discs by using the built-in CD/DVD burning module.