ITunes 9 Home Sharing - music *and* applications?

Question

Reading the documentation for iTunes 9, it says that all copies of iTunes must be logged in using the same app store id. For music, it appears to be "pay once, use multiple (up to five) times". Does it work the same way with applications?
If so, is there any way to transfer "ownership" of apps from one id to another (ie, we've purchased apps for three phones using three different ids and would love to consolidate them)?
If not, that opens up a whole different avenue of questions (which I'll defer until I know for sure).
Thanks.

Answer 1

UPDATE: I've now authorized my laptop with my fiance's itunes account and my personal iTunes account, this is key.
I'm now able to transfer songs from either her laptop or my iMac (where my music is stored for now) as long as the current logged-in Home Sharing account is active. So it's basically like logging into an ftp server, only one connection allowed at a time.
So just turn off Home Sharing and then turn it back on again, re-enter the other systems iTunes account info and there you go, you can transfer from that one now. Of course this would be simpler if you were just merging two computers/accounts instead of adding in a 3rd laptop like my experiment. You should just have to make sure all computers involved (up to 5) are authorized for all the iTunes accounts involved.
And yes using the settings button with in the home sharing window, you should be able to automatically sync any new purchases from the current shared account, music, movies, apps, etc.