Yes BackupBuddy makes having a development/staging site that once completed can be migrated to live easy.
To make the review site live though it isn't as simple as switching the directory names because databases have to be updated and content moved around. The migration feature in BackupBuddy is what can be used to make that change. For it you would make a backup of the development site and download the importbuddy script, run the script at the live site and follow through the 6 step migration wizard. Still pretty simple.