WinClone v3.0 released. Fully supports Mac OS X Lion, but now costs $19.99
Link: twocanoes.com/winclone.php (via TUAW)
Winclone allows you to easily image your bootcamp partition on your Mac. Whether you need to change the size of the bootcamp partition to give more space to your Mac or PC, or want to migrate the data from one bootcamp partition to another, Winclone makes it easy. Just select the bootcamp volume and create the image. Then restore the image to a bootcamp partition. Couldn't be easier.