I've long contended that any backup of Lightroom should be a part of a normal regular system wide backup. If you follow the recommendations for a regular system wide full/differential backup you will not need to worry. There are two reasons to backup data. The first is to protect against a catastrophic disk failure or a corrupted file. Fot this a simple mirror may be all that is required. The second reason is to protect you against yourself. That "Oops" where you accidently delete or write over a file. Lightroom's non destructive file saving approach is a form of this protection. It does not however prevent you from deleting a file that you shouldn't or protect against file operations outside of LR. For this you need a differential backup with a periodic full backup at an interval that you are comfortable with.
Between full backups, a differential backup only makes a backup of those files that have changed since the last differential backup. If you run full back-ups once a week and daily differentials and any file that changes every day (e.g. .lrcat), you will get 8 copies of that file before the cycle repeats. Alternately, if you delete a JPG on Tuesday and discover that mistake on Sunday, you have that file on the last full backup or on a differential between that backup and Tuesday when it was deleted.
For LR, the basics include backing up only those files that can not be recreated. For LR you can recreate ACR cache and previews, so these should be skipped. I store all presets and plugins in folders under the default LR folders (On XP that would be"c:/documents and settings/{Yourname}/application data/adobe/lightroom)
The LR catalog can get corrupted if it is backed up while LR is actively writing to it. For this reason it is a good idea to schedule your system wide backup over night when you are not likely to be actively using LR. Also for this reason, I use the LR (on startup) catalog backup to make a good clean copy once a week. Even this LR copy backup gets a redundant backup in my house.