I believe that some of the comments made below by the developers of CopyCatX could be seen as a little misleading.
CopyCatX is NOT the only program that can do a block copy of a drive. Both SuperDuper and Carbon Copy Cloner can do that. Even the free command line utility provided by Apple called asr can do a block copy of drives. But before ANY program can do a block copy (or a bit by bit copy) the drive must be UNMOUNTED. So if you are trying to make a clone of your System drive, you cannot do a block copy of the drive but a file copy of your drive. I don't think CopyCatX gets around this limitation. Please correct me if I am wrong.
CopyCatX is not the only program that can copy your Time Machine Drive (or Partition). I believe that SuperDuper and Carbon Copy Cloner can copy the Time Machine Drive (or Partition) when it does the clone in the block copy mode (or a bit for bit copy)
But I do see two advantages of CopyCatX over its competition:
1. It will attempt to recover a damaged drive with bad blocks. (If you want a truly FREE solution for drive recovery, use a command line program like GNU ddrescue. It works under Linux, FreeBSD and Mac).
2. It will copy a drive to MULTIPLE destination drives.
If these features are important to you, then consider buying CopyCatX. If they are not, I would use Carbon Copy Cloner (donationware $5 or more) or SuperDuper ($28 or so). Both are a lot less expensive.
Considering that most programs that do drive recovery are historically expensive, I do not think that the price for CopyCatX is unreasonable. (Of couse, as a consumer, I would like to see a LOWER price).
P.S. Before you buy any Mac Backup program, make sure it backups or copies ALL the metadata associated with EACH file (such as BSD Flag, ACLs, Extended Attributes, Lock Flag, permissions, resource forks). Many backup programs for the Mac do NOT do a great job at preserving metadata.