Inventor Vault add-in provides another advantage, automatic
DWF publishing (DWF attachment option).
When you check in files, DWF file will be automatically
created from your assemblies.
DWF is very compact compared to the original IAM/IPT.
(e.g. Inventor 10's sample: Test Station.iam
original assembly: 30.8 MB - 120 files
published dwf: 0.5 MB - 1 file )
If you can make do with DWF viewer, which can be
launched from Vault Explorer (= Vault stand-alone client),
I guess using Vault would suite your situation.
Hope this answers your question.
-Sami KOZONO
Autodesk
Inventor Modeling QA
PS. You may get more suggestions from Vault discussion group
http://discussion.autodesk.com/forum.jspa?forumID=101