I think iCloud takes care of everything, BN. You can either do iCloud backups OTA, or when you connect to iTunes either wirelessly or by USB (iTunes itselt basically asks you which method do you want to use: iTunes or iCloud backups).
Right now, iCloud takes care of "Mail, Contancts, Calenders, Reminders, Bookmarks, Notes, Photostream (photos and vids), Documents and Data, and Find My iPhone settings." So basically everything iTunes used to do. The only drawbacks are the 5GB space limitation (you have to buy more), and the fact that you can't pick which backup instance you want to restore from.