True. And, it's something that all Microsoft employees should care about. Particularly those of us who need to reformat our machines every few days to test new things.
What's my solution? I put everything I can into Outlook (all my business files, etc) that I can (one .PST file to copy that way). And I keep very tight controls on where I put other things so I can easily back them up.
By the way, Windows XP does come with a “Files and Settings Transfer Wizard” which does help quite a bit. [The Scobleizer Weblog]