Not so long -
http://www.anandtech.com/show/2899/8
Maybe
looong time before full failure, but not for performance degradation.
Well, full failure is all that is really of concern unless the performance degradation falls below (well below in fact when you factor in the low latency of SSDs) the performance of a spinner. That an SSD loses 5% or for that matter 25% of it's throughput is a concern if the drop was from 100MB/sec to 75MB/sec - however it's less of a concern if the drop is from 250MB/sec to 185MB/sec... since even at 185MB/sec it will still be way faster than any 10K RPM hard disk. Add in the fact that only WRITE performance is significantly affected by this and the additional fact that only about 20-30% of hard drive activity is writing data and the rest is reading it... and the argument becomes less clear.
Again... I'm not saying you are wrong by any means... you are most certainly correct - I'm just saying that even with all of it's shortcomings I don't consider SSDs to be inferior in any way to spinners other than in the cost per GB department. And that even if it meant having to replace my SSDs every 2 years - I would still consider it worth it to have the swapfile on the SSD over the spinners in my system.
That being said - the BEST solution (IMHO) is to simply have no swapfile at all provided that your OS can deal with it, which Microsoft is getting better about but still sucks! Why you would ever need a slow pagefile in a system with more physical RAM than the entire OS occupies on the hard drive is a mystery to me that defies explanation. It made sense in the 90's, but when I can buy
16GB of RAM for under $300... I don't understand!