I am using Qt 4.5.1, WinXP and Visual Studio 2008.

As far as I understand, the best way of working is to use Qt shared libraries while debugging and development, and linking statically for deployment.

Questions:
1)
Does this require two separate Qt installations, or can Qt shared debug and Qt static release co-exist in the same Qt directory? If they can co-exist in the same Qt directory, what preparations are necessary (such as nmake distclean or nmake clean etc.) before the second installation?

2)
Is it possible to have a .vcproj project where the debug configuration is using shared libraries and the release configuration is using static link? if the answer is yes, how should this be done?