Not much new I can add but maybe this will help someone...
The edition comparison for Backup and Recovery 12 CE might be gone tomorrow - http://www.paragon-software.com/home/brc/comparison.html . Compared to the last GOTD the files in Backup And Recovery 12 CE are newer [10/31/12], but I'm not sure other than win8 tweaks if anything else is effected.
Q & A on the lack of WinPE in the Compact Edition should, but don't always include reference to Microsoft's pulling WinPE from outside distribution. With paid versions Paragon does have a web site service to allow you to create your own WinPE image -- you can do the same using Microsoft tools, use one of the methods & tools at sites like reboot.pro, use the included Paragon *nix image [better/faster than it used to be], burn backups to optical disc including a bootable restore app/environ, or run Backup and Recovery 12 CE portably using your choice of WinPE-type discs/USB sticks -- copy msvcp60.dll, msvcrt.dll, & prgiso.dll to the "program" folder [the one that has launcher.exe] & it should work portably with the exception of mounting images, which requires driver install... once you boot to a WinPE-type environ you can also usually install the driver, or the complete app if you want. Finally, as pointed out in the comments for today's GOTD, there's a win7 script to create your own WinPE image http://www.sevenforums.com/backup-restore/263582-help-make-windows-pe-disc.html#post2173159 [I have not tried this script, so no idea how well or if it works]
Install Notes: like prior versions copy the RarSFX0 from the system Temp folder to wherever you like if you want a copy of the installation setup -- the folder's deleted when you close setup to keep things tidy [in the past on GOTD Paragon's advised to store it somewhere, & folks complained, along with I believe complaints of it being left behind]. If you need to remove an earlier version & have problems, Paragon uses Windows Installer, & Windows Installer records can get screwed up [usually by some less than excellent coder writing some other app using that installer] -- if you can find Microsoft's "Windows Install Clean Up" app it'll *probably* fix things [more of a work-a-round actually]. At Your Own Risk: If you want to run more than one version, the only thing I've seen cause compatibility issues over the years are different versions of prgiso.dll -- keeping the copy that came with whatever Paragon app in that app's program folder as above is my solution. If a Paragon install insists on uninstalling an earlier version, copy it somewhere else, & copy it back when you're done. Again, At Your Own Risk, though I've never experienced a problem.
Concerns about a Paragon backup app being a GOTD are IMO generally unwarranted... If you don't save the setup files & key, & if you (re)install Windows fresh, you won't be able to install it. You can create an unlimited number of rescue discs/USB sticks to restore a backup you created with Backup and Recovery 12 CE, which should of course include your installation of the Paragon backup app. Unless you loose however many rescue discs And choose not to save the setup & key you shouldn't have a problem.
When comparing Paragon's, or anyone else's image backup app with software that backups just a portion of the drive, I've found it faster to backup the image whether I need all that or not -- excluding files/folders or dealing with files/folders vs. raw data on a HDD takes [often Much] longer. When comparing to competing apps [chiefly Acronis IMHO], Acronis used to be faster from a bootable *nix disc, but I'm unsure, don't think that applies anymore. Since Paragon's regularly on GOTD, I prefer to support them instead of Acronis. EaseUS free backup app works too, but not as portably as Paragon so I don't use that either.
When copying/cloning/moving hard drives &/or partitions I've found restoring a backup image works as well if not better. On a dual boot system I've found running the backup app from XP creates smaller backups than win7 faster -- YMMV but I've generally found the same thing backing up a disc image after booting into LiveXP [like WinPE but for XP Pro rather than win7/8]. If you deal with old hardware, hold onto old copies of Paragon apps, as newer may not work. If you have Paragon's backup app(s) v.10, it'll backup faster than 11 or 12. DO back up the 1st disk track of your system disk -- done using the Smart Backup wizard -- as insurance against root kits compromising the MBR. DO Not use Paragon app's boot loader or recovery if you don't have to. If you're using Backup And Recovery portably, so you don't have the driver & can't mount an archive [the way you would a CD/DVD/BD ISO], restoring that backup to a virtual disk works just fine, but you'll [likely] want to use EasyBCD [free & portable] to remove that entry from win7/8's boot loader menu.