The web-application is a custom-built CMS which has several sub-applications and each one of them has code and content residing in the same directory structure. Due to the a
git does not scale for large repositories. It's not the space, it's the number of files. Please read my blog article that I wrote a while back about this.
In my experience, if you want a scalable, fast, centralized source control system, P4 is the way to go.