Several weeks ago I had a look at Subversion (quite fresh freeware Version Control system, which announced to be replacement of CVS). My first impressions were very good and I decided to use Subversion for the new project.
So I can give you some impressions now. Yes, Subversion really has cool features like directory versioning and full version history (on all actions with files and directories). You can move project folder anywhere, and it still be under version control.
When you commit files, all unversioned files appear in a list, so you can easily add them into repository.
There is a useful ignore list (well, this is not a new feature, but I like it).
Plugin for VisualStudio (AnkhSVN) have some problems with stability. It crashed, and I did not try to re-install it. AnkhSVN is good in fact, maybe the problem is special for my PC configuration.
The only problem appears to be with folders renaming. I renamed two, and couldn't commit them into repository. I had to delete these old folders from repository and add renamed as new folders.