This is pretty simple. If you have set your default backup location within the registry, and you are using log-shipping as your method of disaster recovery, then all the variables are in your msdb database. This works for SQL 2005.
Compression requires twice the space of the actual backups, but if your in the middle of a disaster recovery, it is nice to have the backup on the server you actually need it to be on.
There are several awesome utilities from various vendors that do this much better, but my number one requirement was that it had to be free! In subsequent iterations, I also transfer the results of sp_help_revlogin, and the results of a "roles and permissions" script.
Enjoy and thanks to all the scripting gurus out there for many of the bits and pieces we hobble together for something like this.