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It seems that you can't change the pull strategy (http://wiki.eclipse.org/EGit/User_Guide#Branch_Creation_Dialog) of an existing branch (e.g. master), nor can you configure it during a repo. clone using the File > Import wizard.
I've also noticed that you can't enter branch names with '.' characters in them as the properties dialogue is trying to enforce things such as "branch.<branchname>.<property>".
There seems to be a general lack of properties dialogs for the different objects in the Git Repositories view. The properties view doesn't help if you don't happen to know the key - and it doesn't even show anything for branches.
This is possible since 2.0, you can right click on a branch in the Git Repositories view and select Configure Branch... *** This bug has been marked as a duplicate of bug 371166 ***