Active Sync over Wifi to Exchange 2003

I recently took my old HP 4155 and tried an experiment. I setup
ActiveSync directly to my (global) company's Exchange 2003 OWA server.
I had to disable the SSL Certificate check, and point to the FQDN ...
it works just fine.

My question is how secure is this for pulling mail over a (public) WiFi
connection?

Does Active Sync employ some end to end encryption?

I wouldn't mind passing this process on to other PocketPC users in the
company, but I don't want to compromise any security.

Thanks

.

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