Clone with local alternates?

Often I want to clone a remote repository but would like to use an
existing local source tree as 'alternates'. 

One way of doing this is to clone the local tree with 'git-clone -l -s',
find the latest common commit shared with the remote tree to be fetched,
revert to that with 'git-reset --head $last' and then pulling from the
remote. 

Is that _really_ the best way of doing it though? It would be better if
we just had a '--local-alternates=/foo' option to git-clone when cloning
a remote repository.

-- 
dwmw2

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