Sharing Itunes And Iphoto Libraries Over Network Storage



I'm planning to purchase a Ethernet disk (LaCie Ethernet disk, Synology or other) and install it on my existing network (netgear router and Airport express) in order to store and share my music and photo libraries.
I would like to know whether It would be possible to stream the music and visualize the photos directly from the network storage space or if it's absolutely necessary to upload on my ibook first before streaming.
Could you recommend any network storage.
Thanks for the answer and the link. I got feedback telling me that I will have no problem with iPhoto but that it could be an issue with iTunes. I have heard that it won't be stable if I'm accessing the share drive on the network using the wifi and streaming on the airport express. Any experience? I think that the best way is to go and try.
That's great. I trying to find the answer to my questions using google and various Mac dedicated website but never went on Apple website. I didn't know they have a discussion forum. I will go ahead and order the hard drive and follow the recommandation to have iTunes and iPhoto on that drive. Thanks. Really appreciate your help.