DriverBackup2 is a lightweight driver-backup tool. The application is portable with a caveat: you’ll need administrative privileges for full use. You can opt to backup one or all of your drivers, the backed up files are dumped into a tree structure based on driver name. DriverBackup2 also allows you to restore and delete unnecessary drivers.

With newer OS’s (XP SP2/3, Vista, etc) driver installs tend to be a bit more friendly.  However, a great example is my older IBM laptop that runs WinXP.  Every time I reinstall, I need to get new vid, ethernet, etc drivers from them.  (Since I can never seem to find the backup folder on the external drive where I save them after downloading.)

Try it out and see what you think – could be quite the handy util.