Use the SSD as your System drive, with OS and applications on it.
Use the 10000RPM drive for primary storage of current jobs - project files, footage items, disk cache etc.
Use the 7200RPM drive as secondary storage for jobs in progress.
Thanks Andrew, for helping me out.
I was thinking of using separate HDD for scratch disk.
Is it advisable to use 7200RPM for scratch.
And If I choose to put my applications/softwares too on separate disk
which new HDD will you recommend me to buy.
It depends on your workflow and resources. If you're using uncompressed 1080p footage, every bit of drive speed will help, so stick to 10000RPMs. But if you're working in Standard def and/or with compressed video, the difference in AE between your 10000 and 7200 RPM drives will be negligible.
Personally, I use multiple 7200RPM drives in a RAID configuration to give me better drive performance at low prices. 3 x 1.5 TB Seagate drives have the capacity and speed to capture uncompressed 1080, but cost about US $300 in total.
On a slightly different note. I'm looking for smooth scrubbing previews & overall fast workflow while i'm working on 1080p compositions in AE CS3. I don't want hang ups & don't want to wait for the layers to adjust slowly as i progress with my project. I think its more important than faster rendering, it'll save my time & help me to complete my projects faster.
Can you tell me which hardware/component is mainly responsible for this ?
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In my opinion, in order of importance:
The fastest CPU(s) money can buy will give you the best AE performance. Multiple processors and cores also help, but raw speed is the most important factor.
Using OpenGL while scrubbing can dramatically speed up performance in some instances, but slow speeds in others. So don't spend a fortune on the latest and greatest display card. A mid-priced GPU will do everything After Effects is capable of using.
Thank You Andrew, for all your inputs & answering my queries.
Its really helped. Thanks again.