Earlier version of Ghost can read a NTFS partition but could not write to a NTFS partition. The newer version of Ghost 2003 can read and write to a NTFS partition. If you want to use the older version of Ghost you need to have a FAT32 partition to save your image to or write it to a CD.
A disk image from Ghost or Drive Image is a snapshot. Everything is as it was when you drop it back on the drive - including the registry. If prgrams worked when you created the image they will work after.