What I understand from your comment is that as long as I align the user identifiers on the client computers with the accounts on the server the file sharing and other interoperating facets should work just fine.
For varying definitions of 'fine', yes.
A real-world example: I manage a Snow Leopard Server at work, and a number of work machines are bound to it. There are also a number of userids (mine among them) configured as mobile accounts (see 'Mobility' in Workgroup Manager/Preferences. I can sit down at any of the machines at work and login to my account - all my files and desktop preferences are there. Moreover, I can connect via the VPN from home and login remotely (not for the meek!) and sync up in five minutes and have the exact same environment on my home machine - right down the the last edit I made in a file before I logged out in the office.
It's not perfect - syncing up from home can be slow. You don't want to keep lots of little files/apps/etc in your home directory. And the synchronization manager always seems to have something to complain about. But in reality, it works great and I love being able to work from home with the exact same environment that I have in the office.
Last but not least, all of my home directories at the office (and at home) are encrypted with Filevault, so I don't have to worry about anyone else who might be using those machines poking at my files.
A.
nb: There was no user configuration on the office machines other than they are just bound to the server. My userid and password when used on the office machines generates a prompt about would I like to create a local account - I say 'yes' and an account and Filevault volume is created on the fly. -- a.