A 24 hour Recovery Time Objective is quite feasible with backups, provided you're organised and plan ahead.
If you already have the duplicate hardware, I would create a test environment, take the Veritas/Symantec documentation and the tapes you need, and pretty much follow the instructions for disaster recovery in the documentation.
From experience with Backup Exec, if there's nothing too unusual in your setup, and your databases are protected with agents, the documentation pretty much works. We had to make a few adjustments to accommodate minor differences between the production and standby environments, but nothing major.
Don't forget to document everything, and when you have the DR procedures drawn up, keep testing them regularly to make sure any changes in your environment don't break them.