Well, not knowing the way you think it will work... 😉
It will make an exact, perfect duplicate of the Windows environment on the Boot Camp partition. I've done a similar process that you're looking to do--cloning Windows, deleting/recreating the BC partition (but smaller in my case), then restoring the clone--and it works flawlessly. In fact, I do it monthly (just the cloning part) for my main Windows backup strategy. It does take some time, and will return lots of "failure" messages, but don't worry, it's just trying to find the optimum size and retries until it does.
Everything clones: OS, apps, files, directory structure, registry, the whole shootin' match. In other words, a true clone. It's not bootable in & of itself (as SuperDuper! is), it needs to be restored to a FAT or NTFS volume.
It's far more reliable and predictable than Norton Ghost, and perfectly suited for the Mac, as it's a Mac utility to copy BC partitions specifically.
