Based upon more than 15 years of experience with NFS: It's fine for relatively casual employments such as user home directories, where you can tolerate moderate throughput and propagation delay. It is not suitable for applications demanding great responsiveness and throughput and serious locking. Books have been written on the care and feeding of NFS, to deal with the myriad considerations in getting it to work well.
Richard Sims at Boston University (well, Intersession, at home)
