This new CVS integration looks promising, but it is totally broken. Adding directories and files beneath them does only work when importing. Adding toplevel dirs are not possible without reimport. It has no support for binary files. It also throws NPEs everywhere (earlier "external" version did same, but not very often).
I really think that IDEA needs decent CVS support. The new CVS integration is a good start, but I think that it should not have been released yet as it is totally lacking features and functionality and those features that are in place mostly don't work at all or do not work correctly (eg. it imports binary files as ascii).