I got it working just fine on a Debian machine (Lenny) running Openbox without Nautilus. You can do the installation purely from the command-line and run the daemon in the same way. The one downside is that Nautilus used to be the only way to get visual notitification of syncs, etc. I got syncing just fine, but nothing on a panel or the like.
I haven't used Dropbox in some time though, so someone may have figured out a hack to integrate the tool with KDE's panel in some way. Their forums are pretty active with a variety of Linux distros and desktop environments. Search there.