@TheTraveler: System Image is a little hidden, but still there in Windows 8. In Control Panel, under File History (Control Panel\System and Security\File History) if you look at the bottom left corner of the window there is a link to the System Image Backup (I think this is what you are looking for).
I think System Image lost lots of interest since Windows 8 installs a recovery partition (you can also create a separate recovery drive somewhere hidden in Control Panel). But I agree with you, although these options are there, they are hidden to the average user and not very clear (System Image, Recovery Drive, Recovery Partition, File History, etc.).
My issue with OneDrive and File History is that File History will not back up OneDrive files(OneDrive is not subject to local hardware failures, but it still is vulnerable to file overwrite or deleted by mistake). I do trust the cloud, but with everything on it, I would like to have a local copy... Saving a copy of the System Image and File History on the OneDrive would be a great integration, but I think a local copy is as important.