Cake 1.2 has been added to the trunk: https://svn.cakephp.org/repo/trunk/cake/1.2.x.x . The version in trunk is usually more stable than the version in the development branch. There are also nightly builds available at http://cakephp.org/downloads/index/nightly/1.2.x.x.
Cool, i changed my svn:externals paths 8-)
oops that was me ;-)