+4  A: 

I would have a look at VisualSVN Server. It installs easily on Windows and addresses all your concerns.

Greg Hewgill
I agree, I've tried several options for windows and the VisualSVN server is by far the easiest while still using the power of the apache server
Sebastian
+1 - although I'm flabbergasted that Greg did say "Install GIT and be done with it!" ;-)
Ken Gentle
A: 

Hmm, my bet would be to install it on your machine, on an external hard disk drive. You will sacrifice a bit of the speed, but you'll have the storage (it has it's own HDD) and the back-up friendliness.

+1  A: 

Installing into a VMWare image would mean that it's become portable between systems. As long as you don't require access from external sites I would go with that solution. You could use a pre-built VMWare image[1] or create your own pretty simply using a Linux distro like Ubuntu[2]. Alternatively, you could go with a lightweight Linux solution[3][4] and install just what's needed for SVN to function.

I personally have a Linux server set up in my house (soon to move to my office) that hosts my SVN repository - if you can sacrifice an old machine, this is a by far the best way to go.

[1] http://www.vmware.com/appliances/directory/308
[2] https://help.ubuntu.com/8.10/serverguide/C/subversion.html
[3] http://archlinux.org
[4] http://damnsmalllinux.org

Brenton C
I too use an older box with Ubuntu and Subversion. Very easy to manage.
Ken Gentle
+1  A: 

I'm no SVN expert, but we are a windows environment and we switched to SVN recently.

We've been very happy with the (free) VisualSVn server, which doesn't do much but does make it a bit more 'windowslike' for the management.

http://www.visualsvn.com/server/

works great For hosting in this environment- in terms of separate PC or vmware image--both could work; for repository backup on windows environment, it is a bit of a pain, but we use something along these lines:

http://svn.haxx.se/users/archive-2007-07/0909.shtml

Peter Gibbons
A: 

For home projects, I was using VisualSVN Server. It was so easy to use, and setup was so minimal that I convinced my boss to replace SourceSafe at work with it. Literally, it was set up in minutes. Security access was a breeze as well. We purchased the plugin for Visual Studio from VisualSVN also to allow us to commit and update projects right from the IDE. This requires TortoiseSVN to be installed on the client machine. All server configuration can be run directly from the VisualSVN management console, which also snaps in to the Computer Management console of Windows.

Mark Struzinski
+1  A: 

I'm sorry for giving this answer you probably don't want to hear (read), but don't your requirements just yell "GIT!"?

It's ideal for situations where you just want to use a version control system without the hassle of setting up a repository. Just git init and you're set to go...

Tader
GIT?Why ? I don't know the technology / tools. Don't know how to set it up, and it sounds more complex.
Mischa Kroon