Please note, that this isn't by any means a solution I came up with myself. Credit is due to the following two blog articles:
(1)
(2)
Revert any SVN files that have been previously committed and might have updated since last commit:
find -name "*.pyc" -exec svn revert {} \;
Remove all SVN files from the repository:
find -name "*.pyc" -exec svn delete {} \;
Set your user so it never attempts to SVN pyc's again:
vi ~/.subversion/config
Search for and uncomment the global-ignore line, adding or modifying the ignore list as needed:
global-ignores = *.pyc