What are you trying to do? Is this going to be a desktop system for someone or is it going to be some specialty system?
On Linux or the BSD's, it'd be easy to rattle off a lot of programs that meet your criteria, but not on Windows. Very few programs are distributed with source code, and even fewer will have a CVS/SVN repository, since very few people have any kind of build environment on Windows to make any use of it.
From the sound of things, you just want to be running Linux or one of the BSD's. If you're looking for security above all else, then consider OpenBSD. Just ignore the mailing lists, or you'll quickly discover that the chief developer, Theo de Raadt is an incredible tool. Otherwise, any of the other two major BSD players or Linux will do nicely.
I need to tighten this thing up for the owner. What are your suggestions?
They must be:
b) with source code fully available at no cost. (Think GPL and BSD licenses.)
c) with updates/CVS/builds always current
d) have a good track record.
Shareware and freeware are "no go!"
I will be checking every suggestion.