Hi Eric,
I have successfully been using Time Machine to back up all user data in advanced mode. It does a great job because of the frequency and the way it catalogues all of the data so it is readily available to restore.
I do not use it to back up the server operating system files. I use the third party SuperDuper! program to do a partition copy to external HDD once a week.
As far as I can see Time Machine is very stable in advanced mode.
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