I was doing this before, and the big caveat is that in those folders, a lot of stuff is bound to the local system, or useless on another system, when it works.

This tool solves this by being very selective on the files it syncs.

e.g. if you use a different user on 2 different macs, one of the file might reference /Users/joe/stuff while on your other mac it should be /Users/bill/stuff

For Sublime Text 2 for example, the tool make sure it sync only the config files that can be dropped on another system without requiring any in-file change.

Also it does only sync the useful config, it does not sync cache, temp files, and files specific to the install/hardware.