Personally, I have had nothing but trouble restoring from a time machine backup. Preferences files are often missing or corrupt, things just don't work that well. The reason is because TM doesn't back up every file - it ignored many system files. For example, TM doesn't back up your host file. If you have manual entries in your host file, they will be lost when you do a TM restore. It might not matter 99.9% of the time, but it annoys me that I have to worry whether TM considers this or that directory important enough to back up.
If things go south with my computer, I think the best is to have a bootable image of my old drive as it existed on the day it died, so I can have a bit for bit restore. CCC does this, and it's $40 well spent.