I've never actually managed to get the briefcase to work properly for me. Possibly because I have so many computers, and different networks, but possibly because it's more on target for default installations of office lol.
Instead, we use a bit more manual system, but it has worked well.
The primary office network repository has a "Projects" share, and under that are all of our jobs, broken down by project number. In each project, are folders for things like "HMI", "PLC", "DRIVES", "DOCS", etc. Everyone has a simple text document on thier desktops (and laptops) called "CHECKOUT.TXT".
If you need to take the info to the floor, or off-site to work on something, copy your "CHECKOUT.TXT" to the root of the project folder, then copy the entire folder to a PROJECTS directory on a laptop. When you return, copy the whole thing back, and delete the "CHECKOUT.TXT" file.
It isn't automatic, but it has worked. I've tried various source-safe type code tracking, but have never had much success due to the incredible variety of source-level files we have to work with here.
EDIT -- One thing that I don't like about the Idea of Briefcase, is I absolutely HATE MicroSoft doing things behind my back. I always want to actually confirm file updates and things. For the same reason, I always have 'Automatic Updates' for everything turned off.