I have a couple of observations.
If you have Personal Backup actually backing up the OS9 volume to a drive, isn't then backing up that drive to the Time capsule redundant?
You say yourself that you end up with two copies of the backup, so what's the point of "backing up the backup"? Sure, it's double security, but that's a different objective and not the point of using the Time Capsule. It seems like personal backup does everything you need in an automated fashion without having to "two-step" the files with Time machine. All you need is an accessible backup drive.
Obviously, this won't work on all older Macs, but if your OS9 machine dual-boots then you can just use Time machine from the OSX side to backup both the OSX files and a separate OS9 volumeā¦
BUT, (and this applies to your two-step scheme as well) this is not a good idea!
Backing up OS9 files and/or volumes with TM is a risky process. TM is designed to backup a primary OSX volume and any other files / volumes owned by that OSX install. It is not intended to be a "universal" backup alternative to other 3rd party backup solutions. It is sensitive to the permissions on every file it backs up and goes to great pains to keep them assigned to "their" OSX volume and owner. This is obviously a requirement to backup multiple computers say, in your household to one Time Capsule or Time Machine drive and keep everything separated and secure. So what happens? It is very possible and very likely that restored OS9 files will appear but they'll be unusable in OS9 because they will have locked permissions that you simply cannot unlock. They will appear unlocked and read/writable by all in OSX but locked read-only in OS9.
How do I know this? How do you think? I found out the hard way. OS9 drive fails / put in new drive / restore from TM / spend ridiculous amount of time hair-pulling and searching for non-existent information about it because nothing works!
Note that this is a weird anomaly caused by differences in ≥OS9 and OSX permissions, so while it almost always happens, other times it might not or only partially, possibly related to file type. Either way, it's no way to make a reliable backup.
There may well be a reason and solution for this that I don't know about but FWIW, I did my damndest to research and fix the issue with zero success. I now use a Time Capsule for all things OSX but I backup my OS9 volume separately with Carbon Copy Cloner.