Yesterday Microsoft announced the release of System Center Essentials (SCE) 2010 and System Center Data Protection Manager (SCDPM) 2010.
The new version of SCDPM, in beta since October 2009, introduces the following new capabilities:
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Support for Hyper-V R2 (including the stand-alone version and the one that comes with Windows)
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Support for Live Migration scenarios using cluster-shared volumes (CSV)
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Restore VMs to alternate Hyper-V hosts
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Individual file-item restore from host-based backups, so you can protect the entire virtual machine from the host (no guest agent required), but selectively restore individual files from inside the VHDs