You can definitely find a better priced alternative to the provider you linked... The first one that comes to the top of my head that offers great pricing on R1Soft would be JoneSolutions. Check the offers forum as they usually have an ad of some sort.
GigeNet also offers R1Soft services which may work better for you since they are relatively close to LiquidWeb latency wise.
█ Daniel | Server Complete, LLC
█ Windows VPS // Dedicated Servers // Backup Services
█ Wholly owned hardware and self operated network (AS19531) in Jacksonville, FL
Abhishek, it depends on how important is your site, what kind of or what type of backup you want. rSync and R1Soft CDP cannot be compared they are different class.
But don't decide on the basis of what's written by a provider about a similar product/service, just like debating on Windows/Linux.
So ask yourself what your needs are and what is your budget.
Many people are happy with rSync and many with R1Soft CDP, both works as they should.
R1Soft CDP is a commercial product hence going to cost higher.
What kind of server are you on and are you the server admin with root access, any control panel?
BTW while using rSync you don't pay for the software rather you pay for the space/infrastructure you are going to utilise. As far as MySql is concerned there are various methods to backup/dump your database.