Works well for me - we then sync our password file between us using Dropbox. It creates a lock file that also syncs and stops multiple people from editing simulaneously and messing things up.

I don't have Windows, but use KeePassX and KeePassDroid to share the password DB between Linux and my Android phone (via Dropbox) and it works great.

I've been using it for the past 2 years on a Linux box, it's rock-solid and format-compatible with KeePass 1.x