Hmm... in that case, I'd probably recommend storing the code in a repository (SVN, git, or whatnot), and then having your configuration management system pull and deploy the code when it changes. This will allow the cluster to keep running if the server with the source code goes away.
If you go the NFS route,
be sure to make it highly available. Otherwise you're implementing a distributed single point of failure...
Ninja edit: see also
puppet and
chef for your automation needs.
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