Imagine a directory like this:
~/.owl/
__me__/
.vimrc
.gvimrc
.hgrc
/etc/
httpd/
httpd.conf
Then you run owl sync, and many symlinks to the readl files are made for you, like this:
~/
.vimrc # linking to ~/.owl/__me__/.vimrc
.gvimrc # linking to ~/.owl/__me__/.gvimrc
.hgrc # and so on
/etc/httpd/httpd.conf
Isn't it awesome?