It seems the github svn interface isn't working for some reason at the moment - I've manually updated the release on the module page though, so you should be able to download and go. I've just installed a fresh 2.4.0 with external-content module, the filesystem-connector module, and the CMIS connector module. Let me know how you go.
UncleCheese: Yes, you'd have to write a connector for it to retrieve the content in a method that fits within the framework, but that's exactly the purpose for the external content module as a whole. Contact me on skype if you've got some more specific questions if you're going to have a go at it (nyeholt is my skype username). The next iteration of development will be to improve the import functionality to be more flexible and support custom import forms, which I'll try and get moving on soon if you're going to be writing some stuff for wordpress.
innyinskip: I'll have a check later this evening and get back to you in this thread.
static variable that limits the prefix of the filepath location to a particular subfolder. Once you set this variable and save the filesystem connector, the tree should refresh and show a list of files.