Still, no 16 GB memory. The only thing left tying me to the MBP.
While there are obviously users that can use more than 8GB of memory (or heck, even more than 128 GB of memory) it's probably less than 1% of the Mac Using population that requires more than 8 GB of memory, and Apple expects that 1% to use the MBP. I don't think the Air will see more than 8 GB of memory for at least another 5 years.
My point is, with an SSD, you can swap, it won't be slow as the good old HDD days. On my workstation with 8GB of RAM and a 512 SSD (MBPr), I often have 8 or more GB swapped, it's not noticeable at all.
The only downside is that yeah, the VM file size will reduce your actual available disk space until you clean it up (reboot).