Need pointers for svn and wpmu set up… anyone know svn?

Hey – I’m hoping some of you that are more experienced with svn can throw me a pointer or two…

I have set up wpmu with svn on my server – so I can check out the latest code from automattic. Cool. Now, I also want to have a repository so I can check my own code in and out of the server. Do I need to set up my own repository so I can check files out to my local machine?

Let me see if I can make more sense of it… this is the general flow that I want….

WordPress Code base on automatic servers

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check out to my server

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check out from my server to my local box

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check changes back in to my sever and update

But I don’t want to send my changes to Automattic – I just want my own code under source control… can anyone explain to a svn newbie the best way to configure a set up like that?

My guess is I need to set up a repository on my server, check the files out from automattic into a working copy on my server – then move the files over to my own repository every time I update WordPress? That seems to make sense but I can’t quite wrap my head around it – and it just seems to have one step too many…. anyone wanna give me a few pointers?