On Monday, the Subversion project is scheduled to release version 1.0 of their version control system, under development for several years now. Subversion was intended from its inception as the CVS replacement and it comes with many important features previously found only on commercial VCS like Perforce. It was designed for better remote performance, and it is multi-platform with a GUI/CLI front-end.
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Yes, SVN can do $Id$ et al.
Subversion might not compare to some of the more advanced VCS suites out there, but sure as hell it beats CVS hands down.
(And if you think CVS repos are more reliable due to their file layout... oh man, rethink your backup strategy...)