I would like to take a backup of my fb2k configuration, library and all settings. I wish to do this so that if I ever have to reinstall I have my complete configuration and library preserved. I realize that I must install the same version along with all components of the same version. Would that plus a ZIP of %USERPROFILE%\AppData\Roaming\foobar2000 directory and all files and directories below be sufficient for a complete restore?
All the settings are stored under the %appdata%\foobar2000 directory so backing it up is enough.
Note that you can typically also always install a newer version of the player. Though when you do that it's safest to have the profile directory already in place, so any possible file imports and version upgrades can be performed without trouble.
Another thing to keep in mind is that nothing is easier to backup than the Portable version of Foobar, an option offered on install. Unless you deliberately choose to store certain things elsewhere, everything (as in EVERYTHING--excluding your actual music files of course) is stored in one single folder by default. Copy that somewhere and you've got it all.