Maybe I'm overlooking something obvious but wouldn't piping through awk 'rand()<.1{print}' give a decent streaming random sample of roughly 10% of input?
Reservoir sampling allows you to return a specific number of samples regardless of the size of the input rather than a specific fraction of samples (which is what your awk script does).
On the other hand, the awk script handles streaming quite nicely; If you have a few hundred machines and you want to just get a sense of log messages on all of them (in real time; say you're about to change something and want to just eyeball whether the mix of error messages changes), you could do something very quick and dirty with that awk script.
As minimax stated, your awk code won't provide exactly k samples. Here's a bit of awk code that implements reservoir sampling (apologies in advance for any bugs) and prints the current sample to stdout, without needing to first process the entire stream. It simply prints the set of samples to stdout whenever the sample updates, with sets of samples separated by a distinct string. It is called as follows (of course, replace dmesg with any stream of your choosing):
dmesg | gawk -f reservoir-sample.awk k=5 record_separator='==='
#!/usr/bin/gawk -f
### reservoir-sample.awk
###
### Sample k random lines from a stream, without knowing the size of the stream.
###
### (Tomer Altman)
### Parameters: (set from command-line)
##
## k: number of lines to sample
## record_separator: string used to separate iterations of the sample in stdout.
## Define a function for returning a number between 1 and n:
function random_int (n) { return 1 + int(rand() * n) }
## Initialize the PRNG seed:
BEGIN { srand() }
## For the first k lines, initialize the sample array:
NR <= k { sample[NR] = $0 }
## If we've initialized the sample array, and we pick an integer between one and the current record number that is less than or equal to k, update the sample array and print it to stdout:
NR > k && (current_random_int = random_int(NR)) <= k {
sample[current_random_int] = $0
for (i in sample) print sample[i]
print (record_separator != "") ? record_separator : "--"
}