The immediate speed improvement is evident as SOON as it's installed. Forget CPU, GPU, more RAM, RAID, etc....The SSD is easily the most incredible improvement you can make for 99% of most folks' activities on a workstation. For emails, surfing, word processing, FaceBook, Twitter, et al...the speed enhancement is unreal! Once you've used an SSD, you'll understand.
As far as more storage? It's down to 6-8 cents a gig! You can pick up 1.5TB mobile drives at Costco for a hundred bucks! If you've got a monster video/audio/still library, why not externally store them? Or better yet, as the previous poster mentioned, rid yourself of your HDD and install a second drive, up to a full TB in the ODD bay? Relatively cheap and easy to do if you've got any skills with screwdrivers
Seriously...I wasn't at all convinced until I picked my wife up a little 11.6" MBAir. Next to my 17", 2010 i7 with the 7200 RPM hard drive...my iTunes ball bounces about 4-5 times before opening....Her Air? The ball goes up...but never hits the bottom! It opens literally in a second or two...as do all of my programs. Instant wake, incredible boot times....and shut down is also only a second or two....for most other exercises on your computer for every day tasks, there is an immediate and apparent speed increase...easy to notice, unlike RAM bumps or CPU increase...where you have to run silly benchmarks to actually see the difference...an SSD requires no such testing...and also, as mentioned by the earlier poster...MOST Apps require very little space...Even the bigger Apps like FCP and Logic, which I use everyday....you can put the apps on the SSD and the Loops (>50gigs) on the secondary drive.
I'm not sure what the actual numbers are...but I would be MOST folks don't come anywhere near filling their 250gig HDDs these days. Most folks, not including those of us geeks that hang on these boards and boast 1TB music collections and 8TB Video collections

Hell...if you have this much need for storage, there is NO way to put it in your laptop anyway...These days, with Cloud storage becoming more of a reality at a reasonable price and external storage costing pennies a Gig....IMHO, there is NO need for an internal monster HDD anymore! YMMV, as always
Peace
J