PHD Consulting just released a new tool called esXpress. It's available in 3 versions: LE, Pro and Enterprise. The LE version is available for free and offers:

• Complete 100% backups of all your virtual machines every day
• Faster then other virtual backup solutions. Realistic backups speeds from 17 GB an hour to 100 GB an hour
• No local /vmfs or ext3 space is required on the host
• Run multiple backups per day, instead of multiple days per backup
• Backup to Linux, Windows or any other server using FTP
• Each host runs autonomously, not from a centralized host. No single point of failure
• Menu driven, no scripting required
• Simple installation on host server
• Restore FULL backups easily through the PHD Menu, which pulls the backup directly from the backup server
• No Additional local space is required to restore a FULL backup. You only need enough local /vmfs space to recreate the restored FULL VMDK backup
• No software is actually required to restore a FULL backup, it just makes it simpler
• Simple reporting on the backup FTP server. Hosts, Days, VMDK, Space
• Complete integration with our GUI front-end (coming soon)
• 60 Day esXpress Pro Intelligent Delta plug-in demo

As far as I understand after 60 days only the Intelligent Delta plug-in will be disabled granting a complete backup solution for free (if I misunderstood please advice). Download it here.