Backup whole phone with "dd" command?

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Atleast on my Huawei U8800 I can go to the bootloader screen that exposes the phone's whole internal flash mem to linux. (dev/sdX). I've been wondering if I could use dd if=foo of=foo to backup/restore the whole phone? I think it should work, but if someone has any more understanding of all the non-standard Android partitions, more info is welcome.

The reason I'm considering this is because CWM recovery doesn't work with U8800's new 2.3 update (ATM).

I've been thinking that the non-standard partitions must contain stuff like the bootloader itself, bootup logo, phone's IMEI, etc.. ?

It would be a great way to switch between roms that have different partition tables etc, and if CWM recovery doesn't work

Looks like it works atleast with U8800:
http://forum.xda-developers.com/show....php?t=1374511