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I would advise against using any form of flash for 24/7 usage. Flash memory has a maximum number of write cycles. In other words each bit of memory can only be changed a certain number of times before it can not be changed anymore and gets "stuck".
As far as peformance of the parts you listed, they would be decently below the performance of a desktop 7200rpm drive. The limiting factor would be the compact flash. For example if you used the Kingston Ultimate 266X drive, the performance would be a little below that of a cheap 5400 rpm drive (you would not have any seek time with the flash so the flash could appear faster depending on the size/type of files).
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A clear conscience is usually the sign of a bad memory.
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