I use SVN for my coding. I have my own SVN server running in an OpenSuse VPN.
There are lots of small 100MB 1 repository 1 user accounts at places like Beanstalk, CVS Dude, etc.
The programming team at my workplace set me up with an SVN server on their network.
I can't remember life before SVN. It's the real deal.
But the question here is about designers.
For coders, most of the files tend to be text based and things like .jpgs and .pdfs.
For designers, the files tend to be .ai, .psd, .fla etc.
SVN is based on the ability to diff text documents, and therefore, save incremental changes.
Example:
someFile (Version 1):
content 1, content 2, content 3, content 4
Now if you make a change to someFile (Version 2), say you delete content 3, SVN does not rewrite all of someFile, it only knows that Version 2 is the same as Version 1, except content 3 was deleted. It just tracks the changes.
The problem with designers is that SVN can't read into .ai, .psd, .fla etc. to track the changes, like with text files, therefore it must rewrite the whole file to the database.
Say you have a 10MB .psd file and make one change to it, and commit it to SVN as a revision, it keeps the original 10MB file and writes a whole second 10MB. Same file, but now 1 change, no matter how small has doubled your storage requirements.
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I never dabbled with Version Cue, don't know much about other version control for designers, but that's how Subversion works anyhow.
I think SVN would be great, but you may be looking at setting up your own server to get the required amount of storage space.