Putting OS on a partitioned SSD

Long time reader, first time poster.
I was wondering some of the advantages/disadvantages of purchasing an SSD and putting the OS on it - whilst having a larger (cheaper) hard disk drive be for storage of files/music. What I have envisioned is a 128GB SSD with Vista64 and Vis. Studio the only things installed on it - improving boot/loading times of intensive, critical programs, while at the same time saving money - at the cost of less performance loading games/music/pictures/etc. on the disk drive (and more thought in installing programs, keeping them separate).

Basically, if I partition my C: drive to the SSD and my D: to be the HDD, can I have the best of both worlds?
I just wanted to run this by and see if you guys had any opinions/experience doing such a configuration.