Can Time Capsule be used as an effective media aggregate away from the base station?

I am buying a MacBook Air but can't get enough space on a SSD to hold my entire iTunes and iPhoto libraries. I am looking at using the Time Capsule to actually store my iTunes and iPhoto libraries. I want to be able to access them from anywhere I have access to the internet. I read somewhere that you can use Time Capsule to access your files from anywhere as long as it's on and you're online.

1. Am I understanding right? If I'm away from my house on WiFi can I access the files on my Time Capsule?

2. If so, would I be able to stream my iTunes and iPhoto library so that I wouldn't have to store terabytes worth of data on an impossibly expensive solid state Air drive?

I could always buy a mobile external drive, but I really don't want to lug something else around and I want to be able to share it with the other computers on my network (namely, my husband's MBP.)

Thanks! :)

QA Apple Time Capsule

QA Apple Time Capsule

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