While we do use Source Control, we do also run all our projects from Network Drives (not shared directories, private directories on network drives). The network drives are backed up nightly, and also use Volume Shadow Copy, so if you need to revert to something before it made it's way to SC, then you can.
To get projects to run correctly with the right permission, follow these steps.
Basically, you've just got to map the shared directory to a drive, and then grant permission, based on that Url, to all code. Say you map to "N:", then use "N:*" as your Url pattern. It isn't obvious you need to wildcard, but you do.
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