Portable Zotero.
In reading the documentation I did not see one obvious way to make Zotero portable. I took the base folder for the reference database and such and copied them to my portable hardrive. Then I point Zotero to that directory instead of its default. Then I just install Zotero on several computers. So far this has worked well with one install of Zotero on my home intel iMac and another installed on my work PC.
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Your approach works too--just make sure that you use the same version of zotero on the different machines.