http://en.wikipedia.org/wiki/ReadyBoost
The ars article isn't very clear, however it isn't talking about a system having a magnetic hard drive and a flash hard drive (in a standard 2.5/3.5 fashion), but rather a magnetic disk and some sort of built-in or extension flash memory. There are new upcoming motherboards that have a decent amount of onboard flash memory for precisely this usage model.
In the SAN market there is a raging trend called Easy Tiering, FAST, or whatever other marketing glop the vendor makes. It allows you to have a couple of SSDs, and then lots of magnetic disks, finding a sweet spot between volume and speed as it automatically moves hot spots to the SSDs. It's a perfect use of varying speed technologies.
The new hybrid hard drives bring this -- to some success -- to the consumer market. They just need a lot more flash and a better algorithm and it's a killer solution: A 2TB magnetic disk with 32GB of high speed flash would be incredible.