This is all a waist of time.  Nothing will or can ever take the place of backing up to tape.  This functionality should be happening no matter what.  One should never directly edit a DTS Package used on a Production(LIVE) Server.  A test version of that package should be created on a Development Server and then promoted or copied up to the Production Server.  In this scenario there is no need to go through all of the steps you outline here.  Your main store now is your Development Server, where all of the main work has been done.  If you really feel you need the extra security of saving the DTS package elsewhere (besides tape), you can save the file from your Development Server to a *.bas or *.dts.  This will allow you to open your package on any server and can be saved in a change management software application like Source Safe.  This would be my recomended process.  Keep in mind that it is never recommended to make modifications, structure or DATA, to any of the sys tables.