I'm pretty sure that fine print is for paid accounts. There is still an "always free 'Private' plan".
The space is still really small though. I would still suggest bitbucket as others have.
We're on the svn train too. Mainly because of the ability to lock assets. We're using a custom root server with lots of storage space for that.
/u/TOJO_IS_LIFE: If you're considering switching to svn you might want to take a look at unfuddle