This is a good question, and one that has been keeping me from investing in a Solid state drive for quite some time. To the best of my knowledge even the best Flash Memory has has a maximum write life cycle of about 100,000 writes per block. Good wear leveling can help extend the life of a device by readdressing regularly written to blocks, but if you have a program or OS that regularly pages data, this could severely limit the life of one of these drives. I was really hoping that MRAM (Magnetoresistive Random Access Memory - Wikipedia, the free encyclopedia) Would take off as it seems more resistant to write related wear, but it is still too expensive to be competetive with Flash.
Keep in mind that they are rating these devices into the Millions of Hours for MTTF -- and that the wear leveling is getting ever more complex.
If you have a program or OS that is regularly paging data, you have either a defective program (or OS) or a system with insufficient physical memory for the intended purpose of the system. Take your pick. In this era of multiple GBs of RAM using swap unless you've dramatically overloaded the machine is unnecessary. If you are finding large amounts of swap is occurring, utilizing a mechanical spindle or two strictly for swap and enjoy the high latency each time you page or swap in and out.
In a server based environment I'm concerned with the intent is to never have to "crack" the chassis during the service lifetime of the machine (3 years). In the next 6-12 months (probably as part of our DC migrations) we'll be moving all of our servers over to SSDs.
For big storage (think very large EMC / NetApp or comparable) we're still going to be using traditional storage for all but tier 0.