While I was at school I used dropbox to sync all my course materials, notes, papers etc between my home desktop and my laptop. It worked really well and I never had trouble with it. I mostly did it because, at home, I preferred working with the larger screen and more comfortable keyboard that I had with my desktop.

When working collaboratively with small teams and shared folders it was more problematic, dealing with all the different document files that got created when there were conflicts was problematic. We ended up just going with Google docs for collaborative papers.