Subversion 1.5 has just been released, but it does nothing to fix what I consider to be Subversion's biggest hole. I know people deride svn for not being distributed, or for doing a bad job of merging, and both of those will be solved when everyone finally switches over to git, as I'm sure we all will eventually.
But I don't miss those things. The thing I miss that Subversion is lacking is a repository setting for globally ignored files. You can set a property on a directory to ignore (for example) *.pyc files. And you can set your client to always ignore *.pyc files in any working tree on your machine. But there is no way to set a repository to ignore *.pyc files anywhere they appear in the tree.
This is such a common need in software development, and is truly a property of the repository, not the client. Why are we still either touching every directory in the tree, or touching every client on the team?
And probably this will also be solved when we all switch over to git...