I have not done it either, but I attended the Livonia team Beta test day back on December 1st, and they handed out a bunch of info.
The NI presenter, (former NI, now works for GM) Becky Linton suggested that Git was geared to Mercurial, and from a newbie point of view I should look at Subversion hosting TortoiseSVN as the windows client.
I have not dug into these as of yet. I have posted the links she handed out on my home website here,
http://www.mcbride4.org/?page_id=29 once I get a code monkey assigned we will get it published on the team site.
I plan on looking at Google Project and TortoiseSVN, as subversion is supported in labview, but not sure if it is in the First package. A couple people there used it, but said they actively managed their workflow to not have to merge projects, although it does work.
Scott.