According to the PostgreSQL documentation for producing Standalone Hot Backups:
These are backups that cannot be used for point-in-time recovery, yet are typically much faster to backup and restore than pg_dump dumps.
It seems that all that is required to produce these kinds of backups is to use pg_basebackup utility and include the -X option, which essentially includes the required WAL files necessary to start the cluster. Why can't these backups be used for PITR? If I don't start this backup immediately, shouldn't I be able to place it in recovery mode and allow it to restore up to any point after the backup was created?