>Use a different version of the project for each developer. They don't have to be local, but it doesn't hurt. I know it sounds bum, but I do it, its not bad. Just remember to update the real project with whatever you add and remove, and whenever you open your project, have it automaticlaly compied formt eh master so you get any updates.

It does sound bum :) But frankly, even though I have VSS, I often have only one other developer, so also use your technique: a central main project directory, and each developer copies it (or parts of it) periodically to/from the central directory to their own staging area. You can get away with this with 2 or 3 people in close contact, but any more and I would definitely go for something like VSS.