Setting up Cakephp for Application Development

I like to keep the CAKPHP ROOT files (/cake/) in a folder of its own and my /app in the working folders. This way, the CAKEPHP ROOT files are not SVNed and that keeps my repos smaller.
My folder structure:
D:\www\cakephp_1_2
D:\www\video_tutorial\app
D:\www\video_tutorial\vendors
D:\www\project 1\app
D:\www\project 1\vendors
All my vendors files for all projects are stored in D:\www\cakephp_1_2\vendors. If it is project [...]