Two WordPress sites sharing the same content

My question is this:

Is it possible to have two separate installations of WP with two separate domains sharing the same content?

Scenario: User on http://A.mysite.com publishes a post. http://B.mysite.com uses the exact same database and can show that post as if it was its own.

I’ve been looking around for quite some time for this solution and cannot find a valid procedure to achieve this.

My ideas are:

1. Is there a way to share the database without having the issue of the siteurl and theme stored in the database be an issue.
2. Maybe use just an RSS feed and somehow parse the XML and display them in a template. This is not the best idea because it would have zero functionality that WordPress provides.
3. Find a way to somehow sync the databases but exclude the wp_options table ?

If your main requirement is to synchronise blog posts from a master site to a slave, then maybe look at the FeedWordPress plugin. It means that you would only add/edit posts on one website and they would be replicated to the other site. That will allow you to cleanly run different plugins on the two sites.