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I don't recall reading about anyone trying this before (they may have but just never mentioned it). You can definitely place all the Pictures and Media on the NAS. For the Archive Edition, this takes up the most space. You can locate the actual database file on the NAS. As for the actual executables, during the installation process, there is a path for the location of the install. But I am not sure if parts would be installed in normal Windows locations (some of which are Windows 'hidden' folder) on your C drive. Consider that A) the actual executables don't take up much space and B) HC doesn't have a problem with installing CB on two computers (think desktop/Laptop but I am not sure if they have a limit on how many other computers or not).