Treating my repository as a SVN repo, I get:
svn co http://myrepo/foo/trunk foo
...
foo/
bar/
baz/ -> http://myrepo/baz/trunk
Treati
Just for the record: I followed this suggestion and tried using SmartGit for dealing with svn:externals.
SmartGit is by far the best GUI client I've ever seen for Git. Regarding svn:externals, it not only correctly fetches them, but also presents the option of doing a "fast snapshot" (read-only, HEAD-only clone) of external repositories.
Unfortunately it is not free for commercial use (and I found the license price a little bit too high - yes I'm a cheapskate). It may be used for free for non-commercial purposes though.