Reference problem in Beta 2

From what you say, there doesn't seem to be any problem. I don't know why it does not work. You should read, however the 'Team Development with Visual Studio .NET and Visual SourceSafe' (http://msdn.microsoft.com/practices/AllReleases/default.aspx?pull=/library/en-us/dnbda/html/tdlg_rm.asp)
It's a very important document if you work with VS.NET and VSS. This recommends that you
put all external (to the system you are currenlty working on) assemblies to a shared folder of a shared computer and create a map drive with the same letter to all developers workstations. It's almost what you do, with the difference that all developers will access the same assemblies and not copies of them to their local machine.

This applies to our case also - not the train part. You can mark the map drive to be available off-line. It works fine in my case. Shared components are on a server which has a folder like \\servername\sharedComponents and all developers have a map drive with the letter R:. Projects have references to assemblies in the form of R:\someassembly.dll or R:\printAssemblies\printassembly.dll. This drive is made available off-line and is automatically synchronized by windows when it goes on-line.
I remind you that you can create map drives using the subst command, instead of the Windows Explorer.

Thanks for your suggestion. I started setting this up and was not able to make the network folder available offline. After doing some troubleshooting, I found in the Windows XP help the following: "The Offline Files feature is not available on Novell NetWare networks." We are running Novell Netware under Windows XP, so I guess the offline feature is unavailable to us.