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You transmit no secret information to it, and it none to you?

But how do I know the information it sends to me hasn't been MITM'd if it isn't SSL'd?

But if you don't have DNS how do you download the revocation list?

How is a system with at least the ability to validate the origin but without repudiation worse than a system with absolutely no security at all.

Sure. Fair. : )

And you don't mind if the traffic is intercepted and modified?