I finally installed Subversion as my local repository. I had used the windows CollabNet server at work it works great, but I decided to try VisualSVN at home. I have to say I like VisualSVN better. With the latest version both of them give you the ability to install Apache during install, but VisualSVN takes the win with their management console. Very easy to use GUI, similar to the Microsoft Sql Server. From the console you can setup up your repositories, users and groups. It is also very convenient to setup group permissions for your repositories.
Note, when you install the Apache server wants to use port 80 or 443 / SSL port. Of course if you have IIS running you will most likely be using those ports for IIS. So either shut down IIS, or figure out which ones gets to use the default port.
Installing on Windows and using the VisualSVN console I had one user and two repositories up in about 5 minutes, very snappy indeed.