Found where it lives:

HKLM\SYSTEM\CurrentControlSet\Control\BackupRestore\FilesNotToSnapshot

OutlookOAB   $UserProfile$\AppData\Local\Microsoft\Outlook\*.oab
OutlookOST   $UserProfile$\AppData\Local\Microsoft\Outlook\*.ost
RAC          %ProgramData%\Microsoft\RAC\*
             %ProgramData%\Microsoft\RAC\StateData\*
             %ProgramData%\Microsoft\RAC\PublishedData\*
WUA          %windir%\softwaredistribution\*.* /s

Additional rules in

   HKLM\SYSTEM\CurrentControlSet\Control\BackupRestore tree.

Much detail at

   http://technet.microsoft.com/en-us/library/ee923636%28WS.10%29.aspx


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