.. even if not for the same reasons it was originally promoted.
Perhaps. But
exactly what are those
reasons now ? Your post above didn't really present anything credible.
Even with swap, there's still a brick wall. And systems now have way more RAM in them than the total of RAM+swap would have been just a couple of years ago.
Regardless of swap, Linux can/will discard pages to free up RAM when needed, so a little RAM goes a very long way with 2.4/xx/2.6.xx kernels.
Swap is obsolete for nearly all situations.
Cheers