Is Oracle Client Install On Network Location Supported

I've looked in several places, OTN, Google, various DBA forums to figure out if the way we have a client installed on a network drive is supported by Oracle - short of asking them if it's supported.

The configuration we have is a full 10g R2 client installed on a network drive, and the various environment variables (Oracle_Home, TNS_ADMIN, etc.) point to that network location for use by client machines (I'm also trying to see if the Instant client is supported on a network location as well.) We've had this set up for years which has served us well.

A co-worker remembers years ago that this set up wasn't supported, Oracle 8 or so was his thought as to what version was used then. Another coworker at an Oracle conference asked this same question and was told that it was supported, however we can't find any documentation to that effect.

Now the question arises as to whether or not using a client installed on a networked drive is a supported configuration for 10g R2 or higher, and if so, where it would be documented.

We are in the process of changing network topology and are reviewing whether this configuration is still the right thing for us or if clients should be installed locally to where they are used.