That's how I've always done it. I see more value in using it for the cache and previews, than for the place your program files live... the latter affects how quick it starts, while cache and previews affect how fast it goes while editing.
Hmmm.... How do you think I should set up my system? Here's why I'm still unsure, I have:
iMac with Fusion 3TB drive (Read 270MB/s write 402MB/s) has my programs
Lacie 20TB Thunderbolt 2 (iMac only has thunderbolt 1) (Read 756MB/s write 539MB/s) has my footage
Lacie Thunderbolt 500GB SSD (Read 267MB/s write 385MB/s)
So the SSD is actually my slowest drive! I tried to put video and audio previews and the Premiere cache disks on the SSD but I have to say I didn't notice any performance boost at all... If anything when preview files are set to the Raid disks they do render about 20% faster.
Ah, well that's different. Usually when talking about an SSD versus a hard drive, you don't mean a slow external SSD versus a massive hyper-fast RAID array! "SSD verus HD" is normally about internal drives, which is what I have, and in that case a decent SSD makes a big difference. A single-spindle hard drive (i.e. plain old HD) is much slower than an SSD, but a RAID array can be a lot faster (depending on how it's set up).
In your situation, as you say, the SSD is your slowest drive, so putting cache etc. there will just slow you down.
[edit]
Just to clarify... the big issue for conventional HDs is the seek time. The throughput numbers you quoted only happen AFTER the HD has found the data, which takes a while. For SSDs, seek time is basically zero, which is where they get most of their speed gain. So don't just look at those throughput numbers.
However, in a big RAID array, one drive can be spewing out data while all the other drives are seeking; so that considerably changes things in favour of the RAID.
Bottom line, you found that the SSD didn't give you a noticeable improvement, and I think that's your answer.