DAV:checked-out property of a working-resource

Hi,
What should be the DAV:checked-out property of a working resource, when the working resource was created due to a CHECKOUT on a version-controlled-resource with DAV:apply-to-version?  Should it be equal to the DAV:checked-in property of the version-controlled-resource at the time the CHECKOUT was done?

Thanks,
Girish

PS: I must admit that after nearly 2 years of association with DeltaV and umpteen number of readings of the spec, every new reading brings in some confusion somewhere! :( Maybe things would have been simpler if the versioning semantics were clearly separated out from the protocol behavior.