I've been using Dropbox with my XCode projects for some time now. Until yesterday, the main advantage was that it allowed me to access those projects seamlessly from my iMac at home or on the road with my MacBook.
Last night I was bouncing along the rails on my commute home trying to edit an XCode project I've been working on all week. While trying to balance my MacBook on my lap and to copy and paste some code, I managed - I'm not quite sure how - to delete the entire Classes folder in my XCode project.
Because I was on the train, I had no backup going so no way to recover all the work I had done on my MacBook. But, thanks to my Dropbox, I was saved. You see, all day long as I worked on the project and saved, the changes to the project were automatically uploaded to Dropbox and then synced to my iMac at home. The Time Machine drive connected to my iMac then dutifully backed up those files each hour. All I had to do when I got home was to enter Time Machine and restore the folder for my XCode project to just before my mishap and I was back in business. Thanks Dropbox!