As I see it, its not possible to exclude .svn directories from Windows Search. At least not in Windows 7. Before Windows 7, I was using Copernic to index my data, but I thought I'd give the Microsoft solution a try. Hours later after modifying the registry and group policy in various ways, I have given up!
Group policy doesn't seem to accept the syntax
file:///\.svn\* and modifying the registry
HKLM\HKEY_LM\SOFTWARE\Microsoft\Windows Search\CrawlScopeManager\Windows\SystemIndex\DefaultRules\x seems to break Windows Search for whatever reason.
I would love to store some data from a subversion repository on my computer and index it nicely, but apparently Microsoft didn't think this one through. Anyone have success?