You may try a setup for files the other way around. Keep your files an the host machine in the shared folder. Than on your VM create a symbolic link from your htdocs folder to that shared folder. In this case developing should be very fast but only running the website on your VM might be slower.
EDIT: My setup is the following:
- I got a XAMPP running on Windows 7 for development
- I got a SVN repository on the webserver the production system is runnig
- In a separate subdomain on my webserver I have a test system running
So basically I develop under Windows, I test on the same machine that runs my production system. We even got Macs for developing as well. I never had any issues developing under Windows and running the page on a openSUSE system (beside case-sensitive file names). Using the exact same machine for the test server is a good idea as it has the same limitations as the production server. So I think having three system DEVELOPMENT, TEST, PRODUCTION is the best you can get. But if it is only for some smaller projects your setup look quite good.