Subversion or some other version control is used in Companies every day. It can be used for software all the way to CAD designs.
There has been some topics about SVN hosting lately:
http://www.chiefdelphi.com/forums/sh...threadid=70845
http://www.chiefdelphi.com/forums/sh...threadid=70865
http://www.chiefdelphi.com/forums/sh...threadid=70013
SVN is really nice if you have multiple programmers and working in different locations. If you always keep the latest version on the server you can get it from any computer that has the Subversion software. The subversion software is all open source.
Do Note: you will read about the SVN Merge feature. This will not work well if you are using Labview Programming. If you are using C/C++ code the merge feature works great because it is text based.
There are some Explorer based systems like TortoiseSVN.
There are also some great GUI based systems like RapidSVN.
If you have a server you can easily setup a server using VisualSVN Server Edition.
If you have any more specific questions feel free to IM/E-Mail/PM me and I can answer them. I have been using SVN for almost 4 years now.