I was doing what the OP is proposing with a 120GB SATA SSD and Intel SRT for a couple of years and the benefits are huge if you're a gamer. Not so much otherwise. Most commonly played game loading times were typically halved, and micro-stutter in most games that suffered from it was totally eliminated.
It's not necessarily a waste of space to use a 120/128GB SSD for the job either as having a few tens of GBs of over-provisioning beyond the used 64GB keeps IOPS at very close to fresh-out-of-box levels at all times with zero requirement for user intervention at any time. Unless/until something breaks, it really is a set-and-forget solution.
I've since gone SATA SSD entirely for games storage as I slowly migrate the entire system away from spinners to SSDs, and the same SSD is now caching a pair of 3TB WD Red spinners in RAID 1 used for media storage. As USAFRet rightly states, the gains are no longer as tangible as they were when games caching for fairly obvious reasons, but it still helps some of the time.
I'm not sure what happens when you mix games and media on the same cached drive though. Does SRT have the intelligence to not kick games out of the cache in favour of, say, huge video files, or will the cached game file blocks be overwritten during such an event meaning that the same game will need re-caching?
If you can arrange a games-only spinner, it will definitely work as expected. If not, I'm not so sure.