Yes, registry also will be backed up if you specify ALL_LOCAL_DRIVES as selection list. Because shadow copy components includes registry also. Refer the below article for more clarity on this.

How to backup the System_State "Now known as Shadow Copy Components" in Windows 2003 and Windows 2008 with VERITAS NetBackup (tm) Enterprise Server "All Versions":   http://www.symantec.com/docs/TECH35151

For details about restoring refer the below article:

HOWTO: Use NetBackup to perform a restore for a total and complete recovery of Windows XP, 2000, 2003, or 2008 client(s) that includes C: (and other system) drive(s), Shadow Copy Component, and/or System_State from a reliable full Windows-NT backup without IDR or BMR in the event of a Disaster (or need to fall back to a known working state):  http://www.symantec.com/docs/TECH56473

 

Regards....

Correct. Shadow Copy Components as well as System State directive includes the registry as well as all the components list under System_State directive and Shadow Copy Components:\ directive in  NBU Admin Guide I.

On p.782 of the same manual you will find this topic: To restore the system state

For a normal windows client (does not include IIS, Fileshare, AD..etc) Shadow Copy Component backup has below data.

1)      System Service

·         Event Logs

·         WMI

2)      System State

·         COM + Class Registration Database

·         Registry

·         System files

 

This article could be helpfull for restoring system state  http://www.symantec.com/docs/TECH56473