Is the svn:// protocol secure when encrypted via SASL?

We'd like to use the svn:// protocol to check out some code over a WAN, but we want to make sure that the code isn't traveling over the WAN in plain-text.

If we set up the repo to require min-compression 128 via SASL, does that encrypt *just the authentication* or does that *encrypt the actual data transfer* too?

I've asked just about everywhere else and can't seem to get a straight answer out of anyone- some people say yes, some people say no.

Thanks,

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 - Keith Palmer