on PC number 2 by importing the web from the server. Save it to the hard drive and then publish back to the server - you should have no problems.
I commonly work on sites on my laptop if I'm away on business, and that used to be my method - it works perfectly. You'll need to remember to do the same thing when back on PC number 1 of course, or you'll have out of sync copies, but it's not a big deal.
The new version, FP 2003 has a really nice publishing interface that shows both local (hard drive) and remote (server) versions of the site. Differences are marked for you, and there's a 'synchronise' button that does just that - it synchronises one version with the other, ensuring that both locations are identical.