The best thing is to try it and see. Always double-check what you have done. Don't burn any bridges until you have tested the new ones!
In general yes that is what Disk Copy is for. It will make exact images of any disk bootable or not. The problem is with Disk Copy you need to be able to boot from another drive like a CD and run Disk Copy from your current boot drive and write the image to another drive. i.e. you cannot be imaging a drive and modifying it at the same time. This can be difficult on an iMac unless you have an external hard drive or network. Disk Copy is not really a backup program it is more for making copies of CDs and Floppies. But it can work for this purpose.