Monday was a public holiday, so I got to try it today. Results, not good.
Overall, I failed to save the program. This was because the card was only 64K in size. I learned that the "8MB" displayed in the module information was the maximum size card available, not the card that was in there. I also learned that you can only save the actual program (with comments, of course). You cannot save the hardware configuration. You cannot save the program for any touch screens attached to the PLC. You cannot save the entire project. You can only save the program, comments and I think the symbol table, but I am not sure.
Why is it I can't resist a challenge!
First the qualifications - this is probably CPU dependant. The tests I made were made using a 317-2DP and a 314C-2DP.
under PLC -> Save to Memory Card, you get a window with, in effect three options.
The first two are Check Boxes (prechecked on opening) offering:
1) Save current User Program (incl. HW-Configuration)
2) Save current Project.
There is also adjacent to these choices a large yellow triangle with an exclamation mark and the warning that "if you select "Save current User Program", the complete MMC will be erased!!!
According to the help file, "Save current Project" creates and saves an archive file, but you can reduce the size of the file by deleting the X-Reference data from the Extras Menu, before saving.
The third part of the box is a two window setup called "Other Files" where you can select files from the left-hand window and copy them over to the right-hand window to be saved to the MMC - always assuming your MMC is big enough!
According to the help file, here you can copy any files which are visible in Explorer to the MMC, regardless of type. I.e. .zip, .xls, .doc, .txt, etc. are all permissible.
I tried this and successfully copied the project's archive .zip file to the MMC. The file is 2.5 MB in size and Step7 showed an expected transfer time of 7,5 min. In fact (via Profibus at 1.5 MB) it took just over three minutes.
Using PLC -> Retrieve from Memory Card, I was then able to copy the file back up to the PC.
The only thing you don't appear to be able to do here, is to delete files directly (I didn't try overwriting the file). To do that you have to have a Prommer and access it via the Files -> S7-Memory card -> Open, Menu.
So to sum it up, on these CPUs at least, you can backup your complete project in a variety of ways on the MMC, as well as saving any other files you want - always assuming your MMC is big enough.