A good SSD storing your OS, apps and page file is going to be a much cheaper fix to your paging issue than splurging well over a grand on 16GBs worth of SODIMMs...
While more RAM would be better from an absolute performance standpoint, I don't think it'd be that much better that it'd be worth the huge amount of money you need to spend.
SSDs at this point remain somewhat overpriced, and you're right, it would improve paging/virtual memory performance, it still isn't as fast as avoiding swap in the first place with real RAM. I'm also not yet convinced of long-term reliability, possibly in particular with OSX. I'd love to get a 256GB SSD (isn't worth it to me to go smaller, need to do work more than 'boot quickly') or larger, but the number of people having SSD issues 3 weeks/months or a year later, as well as current pricing is telling me to wait another 12 months there. Were it a personal laptop *only*, I might pull the trigger sooner, but reliability > speed in this case. I keep backups of course, but time lost to RMAs just aren't fun when there's work to get done.
I'll be likely waiting a year on SSDs, and at that point will go to an optibay with a 1GB 7200rpm (yeah, only 5400rpm right now, but give it a little while) and probably just reserve a boot partition on that drive to keep a boot drive mirror on, or at least the space to restore a boot drive intact to.
If a 16GB RAM kit were the same price as a 256GB SSD right now, I'd still take the RAM, but that may change in the next year or so, or more likely, result in both.