Right. So if I then elect to put the walled on a USB Flash drive, can I somehow point the Bitcoin client on each PC to the USB Flas drive to read the wallet from there? Will that work?
That should work. Run each Bitcoin instance with the
-datadir=/path/to/drive switch.
I wouldn't try using two different copies of the wallet. Bitcoin was not designed to do this. I don't think it takes into account sent transactions until you restart it, which might cause you to accidentally double-spend.