Sysprep has always worked fine for me using ghost and sysprep. Perhaps there is more than one way to create a ghost image hehe but its fine if you create a image by "resealing" it and shutting down, using ghost boot disc to ghostcast a image to the server, and then deploy it back [using ghostcasting again] is how I've done it in the past.
This may not help you, but when using ghost you cannot have a copy of sysprep at c:\sysprep on the machine you want to create an imge from because that is where ghost copies it's version. It won't overwrite the other one for some reason. Worth looking at.