Wow, really? I had no idea PR played so badly with network drives! It's inconceivable to me that Adobe would market it as a FCP7 replacement if it didn't handle network storage - that's a fundamental requirement at most of the facilities I've worked at.
Are there any golden rules about ways to minimise the grief without having to copy giant slabs of content to local drives or is it just a matter of suck it and see? More to the point, why the issues with network content?