I don't know about you guys, but if I'm going to ghost my HD, I'm not going to trust the job to anything other than a proven solution, and for me, that's Norton Ghost.
I've never heard of Windows Shadowcopy, but I will definately check it out. How long has it been in beta? Is it stable or is MS not giving any support for it? I've real skeptical about using anything from MS that was free, until I downloaded thier anti-spy utility. That program is in beta still I believe and works great, hopefully this program you speak of is the same.