title: Named Branches vs Multiple Repositories
body: <p>We're currently using subversion on a relatively large codebase. Each release gets its own branch, and fixes are performed against the trunk and migrated into release branches using <code>svnmerge.py</code></p>
  
  <p>I believe the time has come to move on to better source control, and I've been toying with Mercurial for a while.</p>
  
  <p>There seems to be two schools of though on managing such a release structure using Mercurial.  Either each release gets its own repo, and fixes are made against the release branch and pushed to the main branch (and any other newer release branches.)  OR using named branches within a single repository (or multiple matching copies.)</p>
  
  <p>In either case it seems like I might be using something like transplant to cherrypick changes for inclusion in the release branches.</p>
  
  <p>I ask of you; what are the relative merits of each approach?</p>