We have several bitmaps in the trunk that get tagged along with other source files every time we release a new version. I'm concerned that each time a tag is created, Subversion would create full copies of the bitmaps instead of cheap copies and use up disk space. Does Subversion create a full copy or a cheap copy of bitmap files?
Subversion uses a binary-differencing algorithm to store files, meaning it will determine the small differences between files and use those to determine the new file when one is updated.
Sounds like you will be fine with using it to store your bitmaps.