In order to share Workgroup Templates you would create a share/folder on a server and change the Workgroup Templates file location in, for example, MS Word to point to this location. Every time you create a new document you could select one of the Workgroup Templates, this is standard Office application configuration.

What I want to be able to do is manage version control over the various templates and configure Office applications to point to a Workgroup Templates location on the Sharepoint server. I don't want to use a document workspace as this won't provide the functionality of using the File --> New --> Create from template option in Office applications.

Any information would be useful.