I'd love to convince everyone to switch to git, but I want to note that SVN's branching/merging capabilities are at par with p4's, since at least 1.4 using svnmerge and probably in 1.5 standalone. (My current employer uses p4, and I switched my last workplace over to SVN from CVS.)
It does suck to go back to centralized SCM after using a DVCS though (I clone my work p4 checkout into git for minute-to-minute use). A possible solution: if your build artifacts are most of the large-file problem, consider storing them out of band and having workstations fetch them using Ant/Ivy or something similar?