I have a couple of identical files stored in more than one place on my hard disk. I figure I can save a lot of disk space by hard-linking them to point to the same file. I am a little worried about possibly disastrous side effects.
I guess it does not affect permissions, as those are stored in the respective directories, just like the file name, right? (Update: Apparently, I guessed wrong, permissions are shared, as Carl demonstrates in his answer)
The biggest concern is changes to one file inadvertently also changing the other files. Read-only files should be safe then. And files that can be changed are also okay, if rather than updating within the existing file, a new file gets written. I believe most applications work that way, but probably not all.
Is there anything else to consider?
I am on OS X / HFS+.