Just the schema. For the data, you'd need to run a backup utility of some sort. On MySQL, there's mysqldump, I'm pretty sure there's similar on the Postgres side, so no matter which direction you want to go, you'd be set. Be sure to only dump the data, not the structure, if you're using the schema:dump technique. Rails' database adapters are smart, and they can do the exact same structure with all the local weirdnesses that are required by the respective engines.
Walter
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