I currently have every version from 3.71 through 4.3 plus 3.23 installed on a NAS, but usually only use them for test and as a single user. Perhaps your question should be does anyone do this in production with multiple users.
Dan Burleson Sage Authorized Consultant - Ask me about advanced scripting! e-mail me here
I would assume that it would work fine. Would be like installing it on a dedicated file server. As long as you are talking about a LAN and not a WAN, of course.
