What does sharing an object with a group do?

[Jennifer Boyle]

I think I understand well what happens when I deed an object to a group.  What happens if I share it but don't deed it, by checking the box on the General tab?

[Dresden Ceriano]

It's just like giving edit rights to everyone in the group.

...Dres

[Parhelion Palou]

Group members can edit an object that's been shared with the group. They can do anything the owner can do, for the most part. Generally group members won't be able to edit any scripts.

ETA: Dres got there first while I was checking my answer in-world.

[Jennifer Boyle]

Thanks to you both.  

ETA:  Can they delete them?  

For a group owner, what is the difference between deeding and sharing without deeding?

[Coby Foden]

I found these explanations:

Share with group:
This setting is usually used on rezzed objects. When this box is checked, anyone who is a member of the group can use the object as though they were the owner. Limits on this is that you cannot link the object to another.
http://wiki.secondlife.com/wiki/Permissions_FAQ

Deeding:
Deeding an object to a group involves an ownership transfer, so any "next owner can" permissions come into effect as soon as you deed.
http://forums-archive.secondlife.com/327/be/235170/1.html

[Venus Petrov]

This question would have been a nice addition to the Answers Forum.