But versionning everything is not really great idea. Probably 90% of your files are static. Archives, Media, LIBs. Not worth versioning. But for that 10%, having any (D)VFS is handy. Thats why I wrote DOT for myself, to handle that niche need to version every document I work with.
Its private for now, but here is printout of help: http://borg.uu3.net/~borg/?dot