Some instructions on how to share a single Outlook PST on multiple (networked) machines.
From Deja.com - neo@mvps.org 
"For Outlook 98 & 2000 
- If the folder list is not visible, select View Folder List. 
- For each root folder, right click and select properties 
- Select Advanced button. 
- Note pathname/filename. (For the one that starts with Outlook Today make a special notation) 
- Click OK twice 
- For each root folder that doesn\'t start with outlook today. 
- Right click and select Close 
- Close Outlook and any other mapi enable apps. 
- Move all PSTs noted from above. 
- Start Outlook. 
- You will be presented with an error about the missing file and given a change to locate it. 
- Use the File Open dialog to locate the moved PST file. (Use the one that we made a special notation for) 
- Outlook will complain about the change in location and offer to rebuild the outlook bar. Let it. 
- Use File Open Personal Folder to open remaining PST files. 
- Double check your Rules, since these have a tendency to get munged. 
NOTE: The Journal get munged as well. At this time there is no way to correct the links."
Update: I recently did a fresh install of Office XP. The same trick worked, so far.