I finally managed :-) to have Draco.net working on Windows 2003 Server with cvs. I always had a 100% cpu usage when Draco.net detected a change and that was due to a cvs process.
The solution I used was to define <cvsroot>:sspi:SERVERNAME:/MyREPO</cvsroot> like that. Before I had <cvsroot>:sspi:User@SERVERNAME:E:/MyREPO</cvsroot>, and it was not working with that configuration.
I use CVSNT 2.0.13 and Draco.net 1.5-beta-2.
I use that continous integration tools to develop with my brother our web site. The good thing is that when he change something in the cvs repository I get an email with the changes listed and the status of a build. This ease our communication concerning release. Cool !!!!