I think lots have tried replicating databases. It's a losing proposition and
if it could be done, someone could have probably made some money with it.
Better solution for multi-site development teams is an internet friendly VSS
add-on that performs the client server functions necessary without using a
lot of bandwidth. Have a look at these add-on products:

VssConnect (http://www.voxcode.com)
SourceOffSite (www.sourcegear.com)
Sekonden SourceWeb (http://sourceweb.sekonden.se/SekondenITAB.htm)
VSS.net (http://www.dmbcllc.com/products.htm)

Joe