I generally version all the things, and end up with lots of small private repos. Bitbucket's pricing model is perfect for hosting that kind of thing. Really liking the new UI.
Any particular reason you don't just tag versions instead of creating new repos?
I think he means he has a lot of small projects.
I often init new repos even if its a single file script. Github pricing is per private repository, but Bitbucket has free unlimited private repositories so I can just push them all up.