Running F16 on an SSD is nice and fast! The boot-up time is unbelievably fast. However, I don't yet trust SSDs as reliable storage, even though Crucial is said to be up there with Intel on reliability, so I only plan to have the system on it for now. (My /etc modified files are backed up in a personal subdirectory.) If the SSD dies, I can just start over with a fresh install as described in this section. My other disks back up to each other under nightly cron control, so I'm ok if any one disk fails.
On the whole, fresh installation on a new disk should have been nearly the same amount of work as doing an upgrade. Had there been no issues (yeah, right!), it's not all that much more work to do a fresh install. In my case, getting remote CUPS printing working again turned out to be the major time-sink.