System preferences -- those maintained outside the user files in your Home -- will be isolated to the Sandbox. User preferences -- those stored in your local Library under Home -- will be shared.
If you follow the "Advanced Users" advice in the User's Guide about "copying back", though, we'll fully sync the original volume with the Sandbox. Just don't do it late at night, have a backup of the original volume in case you goof up, and be careful.
Make sense?
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--Dave Nanian
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