Settings..... generally..... no.
Desktop icons and those things associated with your profile and of course your data...... Yes.
An "image" would probably be semi-worthless except for it's point in time, backup value. You can of course mount the image and copy the contents of your profile folder (C:\Users\YourUserName) which is where your desktop icons, docs, music, pictures, downloads, video, favorites, etc. reside (unless you've relocated them).
Generally, when I do such things I just copy off the profile folder to back it up.
Then copy the contents of the individual folders into their new respective locations on the new computer.
Don't worry about the app data folder. It will reconstruct itself as you reinstall your applications.
NOTE: Desktop shortcuts that point to installed applications will not work until you reinstall those applications.