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Having a quick look at what it offers I cannot see any obvious reason why it should not work, but I have no practical experience if SugarSync. I host my own personal ebook library on my home-based web server.
I guess one difference between Dropbox and SugarSync that there is no "free" tier which is probably why many go for DropBox. You could take the 30 day trial offer at SugarSync to see if it does what you need before cimmitting yourself?
If you try SugarSync and it works please let us know.
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