If you like Go-Back, use it... It's not required that you use System Restore but if you ever decide to contact Microsoft about a computer problem, their first suggestion will be to use SR..
Either way, don't depend on either as a true "backup". They all can fail and having a good removal media backup, such as a CD or DVD, is the most reliable way to recover should the drive go south.
Hope this helps.
I installed ERUNT and have used it successfully when I had problems. It recommends disabling SysRestore. Is this a good idea?
I have XP SP2 and Norton GoBack. SysRestore has not been that great. Norton has worked quite well.