When testing game load times with a hybrid drive I didn't really notice a huge difference in load times versus a HDD without SSD caching - probably around 30% faster load times while a regular SSD was often around 3x faster.
Yep, Flash cache of SSHDs help only after initial first load.
And unless they've increased cache size it's so small that even single game doesn't fit into it:
http://techreport.com/review/25425/seagate-desktop-sshd-2tb-hybrid-drive-reviewed
Now if that cache were least 32GB then it could actually fit something...
Intel got the idea lot better:
https://en.wikipedia.org/wiki/Smart_Response_Technology
I have 32GB DDR4 3000
Which can keep lot more cached than SSHDs.
And file caching to RAM always wins Flash...
As for speed in sequential transfer 7200rpm drives surely match Velociraptor.
Heck, even fastest 5400rpm drives might do it with increased data density and higher linear velocity per rpm of 3.5" drive.
Where Veliciraptor has advantage is in max seek time with lower (rpm depending) rotational latency and smaller distance from outermost to innermost cylinder/track.
Then again 3.5" drives store more data per cylinder/track so files of game can be stored in fewer of them requiring less movement of R/W head.
So wouldn't expect any modern 3.5" to be really worser than it.
Again in case of individual drive reliability any of them can last from dead in hour to lasting years and years.
Hence myself buying main HDD storage drives in pairs...
Currently using 5TB 5400rpm WD Reds when other of RAID1's 3TB 7200 rpm Seagates went haywire year or two ago.
Despite of lower rpm didn't notice significant speed difference thanks to higher data density.
(power consumption went down couple watts per drive)