For some math:
Avg mechanical disk seek = 15ms
Avg SSD read seek = 0.1 ms
HDD sequential read speed = 100MB/s
SSD sequential read speed = 200MB/s
We'll assume 3 bytes/pixel (uncompressed)
Typical wow texture size: 256x256x3 = 196KB
Typical "modern game" texture size: 1024x1024x3 = 3.1MB * 3(diffuse, normals, glow) = 9.4MB. The diffuse, normal map, and glow map are typically contiguous in the packed file, so random access is insignificant here.
An SSD fetches a wow texture in 0.1 + (196KB/200MB/s) = 0.1 + 0.98 = 1.08 ms
A hard disk does it in 15 + (196KB/100MB/s) = 16.96 ms. Notice that even with a huge RAID 0 array you can't get this below 15 ms.
Performance advantage = 15.7x
For the modern game texture, an SSD does it in 9.1MB/200MB/s + 0.1 = 45.6 ms
The hard disk does it in 9.1MB/100MB/s + 15 ms = 106 ms. The SSD lead here is not so impressive anymore. With a 2 disk RAID 0 array, this becomes 60.5 ms. With enough cheap disks, we can easily beat the SSD in cost.
Performance advantage = 2.32x
This all goes back to the latency vs bandwidth argument. Here's a really old but decent review on that:
http://www.stuartcheshire.org/rants/Latency.html
For perspective, accessing data via ethernet on a remote computer with SSD (0.3+0.1 ms) is many times faster than accessing data locally via a standard hard drive.