Good article, however; before anyone decides to use this method as their form of DR, I would highly recommend they rethink this. Unfortunately in your situation you were limited, however; you would possibly still require the use for the backups. When you restore all of the system database, if the server was previously used to run jobs or store any SSIS packages, this would have been lost and would would require a restore of the MSDB backup. Also when the master is restored, all of the databases would have to be re-attached and the SQL logins would have been lost.
As having been down this road multiple times and having also tested this a multitude of times, I would recommend that everyone thoroughly think out what solution is best given the amount of time they have to bring their server back online. Practice..practice..practice.. is crucial to ensure a smooth recovery process. I would recommend leaving a copy of backups local as well as at a remote location. I also employ a script daily that creates a script to recreate all of my logins.
Hope this is helpful.