Reply to Traktor, Rekordbox and Ableton - Specifically Libraries

Does anyone have experience with using all three of the above programs on the same computer using the same library of songs?

Id like to have the option of playing out on my S4, my friends CDJs and another friends Ableton setup. Can I analyze from the same library, tag and edit the song info, and setup cue points, etc, without any conflicts within the other pieces of software?

Do I need to partition for each software? Should I use an external drive for one and my normal HD for another?

Thanks guys

NOTE: I didnt search for any previous threads so please be harsh in pointing out other threads if some have been made.