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1) I think the dual degree adds incremental competitiveness to the MBA for most business jobs, and for some (particularly non-international) not at all. Your basic hireability will primarily be relative to your MBA for such jobs. I don't know about G'Town's MBA and how people do out of it. G'Town generally has a good rep in foreign affairs 'cause of SFS, but focus on what the MBA offers.
2) People do very well out of SAIS and they have representation in various firms like Goldman Sachs and others. SAIS recruited a Wharton prof a few years back and they've tuned up their financial faculty considerably. However, an MBA is a much more broadly focused degree: marketing, org. behavior, etc. If you want general management or marketing as a focus, it's not going to be a good substitute. Even in the area of finance, it's harder coming out of SAIS.
3) It's possible. Some people do this. However, you have to apply after only one semester. And for b-schools, working recs count for a lot more. I am not sure how much more it gets you in the way of acceptability to apply from SAIS, if anything. If you graduate from SAIS with a 2-year degree (the normal one), unfortunately you can't get convert it into a joint degree by going to Wharton for a year and a half. Then you have to get the full other degree. SAIS doesn't advertise it so much, but I think they'll authorize joint degrees with other MBA programs -- Tuck (Dartmouth), Haas (Berkeley), Harvard (????I think), UVA -- are ones that ring a bell. If you can get two degrees in 3 years and graduate from, I don't know a top ten or fifteen MBA program, I think you'd make yourself really competitive. Is G'Town there? Don't know.
Good luck.
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