~$: time find . -type f -name '*.php*' | grep -v /CVS/ | while read FILE_NAME; do cvs log "$FILE_NAME" | grep -i '{search string}' >/dev/null && echo "$FILE_NAME"; done | tee .output

Geistreicher Dünnschiss. Kurz gemerkt für lange Zeit.
~$: time find . -type f -name '*.php*' | grep -v /CVS/ | while read FILE_NAME; do cvs log "$FILE_NAME" | grep -i '{search string}' >/dev/null && echo "$FILE_NAME"; done | tee .output