Does SQL Server use multiversion concurrency control (MVCC)?
Does SQL Server really implement MVCC anywhere


Yes, since SQL Server 2005.

The SQL Server terminology is "row-versioning isolation levels". See the product documentation tree starting at Locking and Row Versioning. Note in particular that there are two separate "MVCC" implementations, read committed isolation using row versioning (RCSI) and snapshot isolation (SI).


  and how does that reconcile with the idea of with (tablock, holdlock) if it does?


Using that combination of hints serializes access to whole table(s). It is the least concurrent option available, so using these hints should be very rare. Whether a particular use could be replaced with RCSI or SI isolation depends on the specific circumstances. You could ask a follow-up question with a specific example if you want us to address that aspect in detail.

You might also like to read my series of articles on SQL Server isolation levels.