With regards to the aforementioned statement:
For backups that initially run 17 hours, the system automatically restarts the backup and allots an appropriate amount of time for the process to perform (longer than 17 hours).
This behavior has changed following the application of the hotfix described in KB 952288. Instead of the backup failing at 17hours and restarting with a longer time limit, we now take the size of the database into consideration and allow 1 second for each MB of database (a 10Gb database will be allowed 10240 seconds or approx. 170 minutes to complete before being restarted).