I did this on four short (12 – 17 minutes) HD (DVCPro HD 720 30P) projects this past summer and didn’t have very good luck. We only had two FCP workstations running via fiber to a LanShare system. Had all sorts of issues with random media and render files going off-line both at start-up and in the middle of edits. And of course we couldn’t really be working on the same project on both workstations at the same time.
As our projects grew and got more complex it would sometime take 20 mintes to boot FCP! We survived were able to finish these projects but ultimately it was more work than being on direct attached storage. Our VAR worked really hard to try to make this work for us but we never got beyond these issues. I think Avid still has a way to go with respect to their open storage innitiative.
Systems works great with Avid seats!