I just recently learned of SVN's auto-versioning feature for WebDAV. Although I understand this is not replacement for proper versioning, with messages documenting change sets, it strikes me as a solid and safe replacement to Dropbox (minus nice GUIs and web pages). However, since commits in auto-versioning are frequent, I'd imagine that Git or Hg would be better suited for this, just because of their more compact databases (although I wonder if the distributed nature of things could make the automation ugly for resolving conflicts).
Is this a feature that has been implemented using Git or Hg, as far as anyone knows?