Question : Windows Media Player Library over network

We have a PC which acts as a server for storing all our music. Any PC on network can access this location (only 3 PCs), and has a Windows Media Player Library. Forgive me if I'm wrong but each PC seems to have it's own library so any changes on an individual library don't have any effect on the other libraries. This is a pain as it means the other libraries have to be edited to take account of the change. ie. adding or ammending information to library rather than deleting songs which is disabled on all libraries.
Question is; is there a way to make a change on one library effect the others? Or simply to open one library on any of the PCs?

Answer : Windows Media Player Library over network

"An edit on the second PC should update the host PC's library"

No, in the first method, you would always have to keep one library updated as the master, and the others would just read it.  If you want interactive changes across all 3, it would be the method 2.  However, it should not take that long.  Maybe because it had to capture 53K record entries, it took so long.  When you make changes, it should only happen in a few seconds, if that.  Wait until the whole library is complete, then make a change and see how long it takes.  If too long, there is some IP or host configuration problem.