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Release notes
The companion release to Version Control API 5.x-1.0. At this point, the CVS backend supports everything that the original cvslog module did, with the obligatory exception (the "don't remove release tags" restriction - that's because there's no release node integration for Version Control API yet, and also because of issue #220175).
The major feature that justifies the 1.0 number is the CVS log parser that hasn't been ported until this release, and it now works like a charm. As an improvement to cvslog, both log parsing and trigger script modes now recognize re-added files even though CVS tells us they're just modified.
hunmonk also chipped in and provided multisite support for the trigger scripts, as well as the start of a cvslog -> versioncontrol_cvs porting script, but the latter does not yet cover commits and branches/tags. If you want to port your project*/cvslog setup to versioncontrol_cvs, you'll need to wait for the 6.x version.
In summary, the Version Control API plus Project Node Integration and the CVS backend still can't do everything that project* plus cvslog could - as the project release node integration is not there yet - but it already makes for a nice and reliable log viewer and commit access framework. Total feature parity is planned for the 6.x version of the three versioncontrol modules.