If you want dev synchronized with production use transactional replication.
If you need an image of production use a backup and restore.

--
Hilary Cotter
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RelevantNOISE.Com - Dedicated to mining blogs for business intelligence.

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Abhi,
definitely not peer-to-peer. If the testing is read-write, then snapshot
replication would probably be the way to go. Alternatively a 'database
shipping' custom setup.
Cheers,
Paul Ibison SQL Server MVP, www.replicationanswers.com