Why would sequential access be faster on an SSD or in RAM? I thought that there was essentially no penalty for 'seeking' in both situations?
In practice, on hardware I have tested on, HDD's have a 10x or more slowdown from random IO relative to sequential, while SSD's have a 3x slowdown. Your hardware is definitely not mine, take this with a Hummer-sized grain of salt.
With RAM, you don't just say "Give me the 4 bytes starting at 0x10A6E780". Instead, a whole block of memory around that address is loaded into the cache (pausing execution in the meantime), and then the value is pulled from there.
If the next value you read is in that same block of memory, you don't need to spend time loading a new block of memory into the cache.