FYI: On Linux, you can do instant snapshots with LVM. This is pretty useful as it's possible to snapshot an InnoDB database as it's running without losing data.
Documentation:
http://www.mysqlperformanceblog.com/2009/02/05/disaster-lvm-...
http://www.mysqlperformanceblog.com/2009/02/24/xtrabackup-op...
LVM snapshots on read slaves or during times when you have sufficient write capacity work as advertised.