While I don't directly play from a network drive, I do have network setup on the arcade and the partition that has all of the emulation stuff is shared out. What I do is setup the emulators, front end(s), roms, preview movies, etc all on a partition on my main PC. Get it exactly the way I want it, then I wrote a little batch file using xxcopy to basically duplicate everything to the arcade share. The first time this runs, everything gets transferred over, but after that, only the changed/updated files get transferred so it is fairly fast.
This lets me do all the setup from the comfort of my primary PC, but not have to have the PC on or deal with network problems while using the arcade since there is a local copy of everything there. I also get a side benefit of having a backup copy of everything so I can just reverse the sync to get everything back. I also run a VNC server on the arcade, in case I need to remotely control the arcade, but I rarely use it.