i have two web services. One with user functionality, one with admin functionality.
Both services effectively work with the same object types, for instance:
Check out http://cgeers.com/2011/07/31/wcf-sharing-types-using-svcmap/ By tweaking the Reference.svcmap file you can make sure only one class is generated for each DataContract used by the different service references.
Note: Remember to delete the content of the node before pressing 'Update Service Reference'