SVN's svn:externals To GIT's Submodule
mcnazar writes "Do you manage your Rails Plugins via svn:externals? Thinking of switching to Git but are concerned that Git lacks a direct equivalent of svn:externals? In this article I present a work-around or even IMHO a better solution than SVN's svn:externals."
Its a very informative and quite funny talk actually. Google Video host another GIT video here.
You are correct in that Git does not support partial checkouts. This has been the biggest hurdle in my SVN to Git transition. Yes it is a pain but the benefits I gain (disconnected development from my SVN respository whilst off the network) makes up for this.