I guess I was wishing for a "Fools Guide"
Which may be wishful thinking unless it is a supported SME Server function or a function provided by a well built SME Contrib. Right now, what you are wanting to do is not supported by SME; however, there are some current development efforts that could provide this functionality as a supported function in the next release of SME.
Until this function is released, I think the Backup with Dar Contrib will give you the functionality you are after:
http://wiki.contribs.org/Backup_with_dar Backup with Dar is an SME Contrib that has been around for a couple years now (I believe) and has a good track record.
You could use the contrib to create backup sets of your SME Server to a device (medium) that you could manually carry off-site or you could copy/move the backup set over your WAN to a remote location.
Greg