I had good success using an Intel Optane drive for swap. Of course, that was because the task I was doing required hundreds of gigs of memory and my poor little machine only had 64; not exactly common in a business setting.

Performance was great. Normally when swapping the performance of the machine is terrible, as you say. But those Optanes are so fast that it just didn’t matter. I was doing several hundred thousand operations per second, and they were all taking <4µs. It was a wonderful upgrade.