I would like to create restorable backups of my windows partition akin to how one does it using time machine in OS X. I heard of win clone but that is like a CCC but for bootcamp. Is it recommended or another suggestion de that matter?
Time Machine isn't going to back up your BootCamp partition. If you want a complete restorable image of your BootCamp Windows Installation, I recommend the latest version of Winclone - make sure you get the PAID version. IIRC, it's around $30.00 or so. I never was able to get the free version to work when restoring, but the paid version has always worked for me.