You should look at the formatted capacity when it comes to an SSD. Some models may be advertised as having one capacity but actually having another due to reserved space for error detection and redundancy. Typically they are advertised the same way as HDDs; if the drive is labelled as having 160GB of space, it will be the same as an HDD with 160GB of space. Since Slow Leopard lists file sizes in base-10, it should show up as 160GB formatted as well. More correctly it should have somewhere around 149GB if shown in base-2.
Depending on what you use the computer for, 4GB may be more than adequate. I wouldn't upgrade to 8GB of RAM unless you are certain that your work demands it, as the money could be better spent on a fast SSD or saved for other things if you don't need the extra memory. When looking at SSDs, it's important to think of how a given model will perform down the road when it's getting full and/or when it's been used a lot. The performance of an SSD will degrade over time if it doesn't have good garbage collection or if the host operating system doesn't have TRIM support, which OS X is lacking. I therefore recommend you look at models with a SandForce chipset, as they tend to maintain their performance over time, irrespective of host OS support for TRIM. They don't come cheap though.