Fred -
Interesting thought. We only really have three developers, and from what I can see the need for multiple checkouts is only for the PJM (right?). So we could:
1.) Set up the server to allow multiple checkouts.
2.) Set up each of our development areas (with the project(s) added to Source Safe, so we each have a "checked out" PJM).
3.) Turn off multiple checkouts at the server.
Would this work? If so, we can then sleep well at night knowing once someone checks out a source object, no one else can get to it.
What do you think?