This is a sister question of Is EAP-MSCHAP v2 secure?.
Based on my understanding, IPsec should have authenticated the server (we're using PKI) and secured the rest of the protocols before the user authentication takes place, so there's no need to use PEAP (for L2TP/IPsec) right? (I.e. plain MSCHAPv2 should provide adequate protection for the passwords in this case?)