Version Control system Project Help.

Question

I am a intermediate level programmer with 2 years programming experience(1 year VC++ and 1 year C#.NET). I am required to design a version control system similar to Visual sourcesafe. This is required to run on a local area network (approx 50 users). From analysing some of the commercial products on the market. I have came to the decision that I have to use a database to store all data regarding checkins/checkouts in a database. The database will handle each transaction as a unit of work and avoid any lost update problems. But however I am not sure wheather the store the actual files as a binary buffer stream in the database or to store them on the local hard disk and save the path in the database. What is the better method and why? My current understanding of the project is to have a client server architecture using .NET remoting across TCP channels for performance however i believe there is limited security available for this option. How can i improve the security? I am hoping to make the server a multithreaded component using thread pooling to deal with concurrency. The requests will be queued using MSMQ and processed one by one. Is this an applausable solution. Is there any better alternatives?