There's no option in Backup, as there was in Win2K, but you can make an XP boot disk by formatting a floppy and copying ntldr, boot.ini and ntdetect.com onto it. Looks like you would still need to manually add a registry backup to the windows/repair folder though. See Problem 5 at http://www.microsoft.com/southafrica.../press-587.htm for some further details.
In order to Repair - rather than open the Recovery Console - insert the installation CD and choose New Installation. When the time comes to choose where/how to install then choose to Repair the existing installation of XP.