Unfortunately, this doesn't take into account the fact that stuff you keep in your development repository is almost never identical to stuff you want on your deployment server. There are files you keep in the former but not necessarily want/need in the latter (unit tests, documentation, etc.). Similarly, there are stuff to be put on deployment server which don't want to clutter your dev repository, like compiled CSS/JS assets.

As other have said, deployment should really be done by continuous integration server, and preferably using a protocol that's designed for transmitting files, not version control.