jb101, yeah, that helps me think more clearly. Let's assume I don't use Per-project Audio Folders. In this case, if all my Projects/Session files are saved in the C:\Cakewalk\Cakewalk Projects folder (default folder, anyway), then, inside that folder is a folder called, "Audio" or "Audio Data" depending on the Sonar X version, I believe. In that Audio folder would be literally all of the clips from all the saved Projects in Sonar, including any Bounced clips from any of my projects/sessions.
My case is just that simple. In that Audio folder (C:\Cakewalk\Cakewalk Projects\Audio) were indeed many bounced clips, alongside all of the clips from all the projects/sessions I saved in the default Cakewalk Projects directory. Assuming I want to back up and restore all of my projects and audio, if I simply back up the folder, C:\Cakewalk\Cakewalk Projects, literally all of the projects and audio there should be backed up.
Oddly, in my case, there were some bounced clips in two projects (all drum tracks in one Project and one backing vocal track in another project) must not have been saved in that Audio folder on my C drive, but elsewhere. I know I didn't specify a change in locations for those bounced clips, so I'm a little baffled that they would exist in another folder. I've not tried to export/import, or edit anything outside Sonar.