Several days ago, Titanium Backup received a pretty major update that brought the ability to create flashable update.zip files of your backups. Since the devs behind TB apparently never sleep, they just pushed another update to the app that brings several enhancements to the update.zip functionality, as well as support for Android 4.2:

What's in this version:

• Added the ability to batch restore system apps (not just data). See the new "Exclude system APKs" option.
• Added support for Android 4.2 (no multi-user support at the moment).
• [PRO] Added new "Exclude system APKs" option to the "app+data update.zip" creation job (enabled by default for safety).
• [PRO] Improved "app+data update.zip" creation job to support filtering by platform.
• Improved root acquisition for "app+data update.zip" restoration.
• Minor improvements.
• Updated translations.

The update is available now in the Store, though you'll need a pro license to take advantage of most of the new features.