I'm thinking that option #2 is the best. But, I wonder if moving the OS on the SSD will give me a boost. I'm not too concerned about boot up time or OS responsiveness as much as getting more speed out of my DB queries. I have plenty of space on both drives for the data and OS with room to spare.
I agree, though you probably want to consider setting up multiple tablespaces, so that you can move data between disk subsystems via alter.
