urville :
Most people seem to like to buy a 120 to 500 SSD and then get a mechanical. I'm ready to move past mechanicals.
Stick with 250+ GB SSDs. The 120GB SSDs usually have half the number of flash dies operating in parallel as the 250+ ones, leading to slower performance. (500GB SSDs currently don't have more flash dies because the 250GB already maxes out SATA 3, and there isn't enough physical space on many of the smaller form factors to attach more dies.)
The question is: Is there any benefit to having two drives, with apps on one and the OS on the other? Like mechanicals? Clearly we avoid the mechanical part of the equation, but perhaps the controller or seek is still benefitted by being split between two drives still?
Not really. It helps on mechanical HDDs because they're so slow at random read/write. When the HDD has to switch from reading one file to another, it typically takes 12-18 ms. That's an eternity in computer CPU time. So if the HDD is busy retrieving something for the OS, it's effectively blocked from retrieving something for an app. It's why if you start a virus scan on a HDD computer, it basically becomes useless until the scan is finished. Putting the OS and apps on separate HDDs helps prevent OS read/writes from blocking app read/writes.
SSDs are so fast they have the opposite problem. They can retrieve small files faster than the computer can request them over the SATA interface. That's why NCQ dramatically speeds things up on SSDs. NCQ allows the computer to request multiple files at once from the SSD. Typical SSD 4k read/writes are around 25-70 MB/s, but with NCQ enabled they can hit 250-400 MB/s).
Don't bother with RAID 0 on SSDs. Their 4k read/writes are already so fast than the extra overhead from RAID can actually make them slower than a non-RAID SSD.
Option 1) Just buy a 1TB 850 Pro as the sole drive.
Option 2) Buy a 120GB 850 for the OS and a 500GB 850 SSD and put applications and data on it.
Option 1 is clearly better. Option 2 is out because it's a 120GB SSD.
If you want to save some money, you may want to do a modified Option 2 with a 250GB 850 Pro for the OS, and 500GB 850 EVO for apps and data. I can't think of many desktop use cases where the price of a 1TB SSD could be justified. If you need that much data storage, just put it on a cheap 3-4 TB HDD which spins down when not in use.
One other thing to keep in mind is that SSDs need about 15%-25% of their space kept empty for best performance. They can't overwrite a 1 with a 0, or 0 with a 1. That is, instead of going from 0 -> 1, they have to go 0 -> erased -> 1. The erased- > 1 step is very fast. But the 0 -> erased step is very slow (slower than a HDD), so they do it in the background while the SSD is not being used. If you don't have enough empty space, the SSD could run out of erased blocks, and be forced to do slow 0 -> erased -> 1 operations in real-time to satisfy your write requests.