What is the Best Configuration for using SSD & HDD Internal Drives in iMac?

Hi,

I have a Refurbished 2011 21.5" iMac. It came with a 1TB HDD. I had a 120GB SSD custom installed by Other World Computing. I would like to reap the speed benefits of having the OS and applications reside on the SSD and having most of my heavy, frequently used data on the HDD. I've considered simply going the route of changing the advanced settings of my user configuration so that my home directory is located on the HDD. I've read this is an ok solution, but that there may be better ways to do this to get the best out of the available speed of the SSD. Could anyone recommend better options?

For reference, I use apps like Photoshop Lightroom, the NIK suite of photo editing applications and Photoshop CS6 pretty heavily. I don't do much movie editing or production...only occasional slideshows in iMovie...although I do keep a lot of old, imported, video footage of my kids on my HDD and on my backup system.

Thanks,

Ben Shugart