Sorry, stackoverflow disallows replying or edit to my post myself or your answers since I wasn't registered when I asked this question. So here are responses...
Simon: Thanks. Why do you propose revision properties don't require committing? The nant build script currently uses revision properties to keep track of branch versions for merging and reintegration (svn's builtin merge ability gets confused too easily). But those revision properties require committing to make it to the central repository and your link refers to the same type of revision properties being used for this. Are you referring to some other type of revision properties?
Critical Skill: Yes, the messages for committing "Autobuild updated to version 0.5.6.1049" is customizable. That commit actually happens in the nant build script which gets executed by CI using Hudson. And, remember, we'd like to eliminate that commit because every commit to Pub gets followed by one (or more) of those automated messages which pollutes the logs.
Mark: re: Commit pointer to Priv. Users who commit to pub have zero access to Priv so they don't know what revision--otherwise a good idea. On the other hand, the automated build does this now when it builds pub and priv but that pollutes the log file with tons of automated commits simply to link the versions w/o any other substantive change to Priv.
Mark: We considered storing the correspondences outside the repositories but that leads to another problem we can't solve. Solve this and you win the answer. The problem is that the pub repository holds software which depends on binaries build from Priv with the exactly corresponding version. So it include an "auto update" feature which connects to the server holding Priv and asks for alist of binaries and downloads them. The key is that the primary parameter to start this download is the version.
Mark: So the question is how can the Pub know which version to download? Right now that is solved to by the situation in the original question. The auto build nant script commits a change to the source code in Pub to include the version number of Priv but that is what pollutes the Pub logs with "Auto build updated the version ..". The auto update tool uses that version if priv to request from web server the Priv binaries. And it all works.
Mark: The secondary problems seems, at first, to be solvable by switching the relationship to have Pub software auto update using it's on version--the version of Pub--and the web server matches it using a separate file to get the most recent matching version of Priv binaries. However, low and behold, there seems to be no practical way to have Pub software know the version from every commit.
Mark: If you put $Rev$ keyword in the auto update code, it only gets updated it that very file was modified. This seems to an "age old" challenge in working with Subversion. It seems a pre-commit hook could update the source code with a version but it seems that only works is someone commits the auto udpate source file in question.
Mark: Your last idea was a little confusing but it sounds like it the same as just mentioned to include the version information with the commit to Pub rather than have an additional automated commit. I like that but can't figure out (after googling and reading forums and posts for more than a day). It seems like an common challenge of how to commit the project wide version along with any ordinary commit to Subversion since it only versions files individually. Even if you use svnversion in a pre-commit hook it only updates the files modified, right? So how does the auto build source code know what version when it runs?
Everyone: Thanks to all of you for your questions and responses. It helps to narrow down the understanding of the question so we can arrive at a solution! S.O. is way cool!