Description:
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From manual page: http://www.php.net/soapclient.dorequest
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The documentation indicates __doRequest can be used to implement custom transport layers et al.  However I think it's important to note that this is only for the purpose of CALLING functions. Fetching the WSDL which is done in the constructor does not reference __doRequest and thus will not use whatever authentication, transport protocol, etc is contained therein.  To fetch the WSDL a custom stream_context has to be setup instead.

Took me quite a while to figure this "gotcha" out as a first-time SOAPClient user.