The Five-Minute Rule 20 Years Later
cacm.acm.org
cacm.acm.org
http://www.sun.com/emrkt/openstorage/0309engineers.html?cid=...
Of course, this is probably wrong, and there is a startup somewhere doing just this, and they will be rich :)
Also, the current situation with flash memory being expensive won't last long, and moving to pure solid-state storage is still better than this 3-tier architecture.
For scan-intensive workloads (e.g. datawarehousing), I'd expect to see magnetic disks continue to be used for quite some time. Buying a petabyte of SSD would be expensive.
I've been researching into this to try it myself for a database-centric web app, but I realized I'd have to write much of the software to incorporate flash. For example, you have to make sure that in-memory caches are delegated to flash and kept there according to an LRU algorithm. I'd also expect items stored in flash to be promoted to in-memory storage when accessed often enough, and demoted to disk when used less. And I'm sure there are other intricacies I haven't thought about that need to be considered to make a three-tier storage system work well.
Rather than writing application-specific code for all this, there really should be some general solution that handles this automatically.
Also, Googling for "sun hybrid storage" without the quotes will give you more information.
Edit: Here's a good explanation of how ZFS incorporates flash in its L2ARC, with benchmarks: http://blogs.sun.com/brendan/entry/test
Edit2: I found a higher-level explanation of flash in ZFS. What I didn't realize is that the software is all free to use commercially, though you'd have to be on open solaris: http://blogs.sun.com/jonathan/entry/not_a_flash_in_the
(in that "I _need_ a pony" kind of way...)
Details in this kvetch from Sun engineer Bryan Cantrill (Sun's ZFS-based storage servers do pretty much exactly what you propose, but lose out to NetApp in the SPEC benchmarks): http://blogs.sun.com/bmc/entry/eulogy_for_a_benchmark
The newer, cheaper MLC technology flash drives have far less useful lifetime, somewhere in the vicinity of 5,000-10,000 erase cycles. These drives just won't cut it for usages defined here, though they will work fine in your cell phone.
See (e.g.) http://en.wikipedia.org/wiki/Flash_memory#Write_Endurance