Yes and no.
Some tasks are very CPU dependant. For those, yes, your CPU will be the bottleneck. But for any heavily I/O dependant task, switching to an SSD will show large benefits, regardless of your CPU speed. Magnetic drives are a massive bottleneck even on computers with a very fast CPU/RAM/mobo. Things which are heavy on I/O will be things like booting and opening apps that haven't been pre-cached.
Only if you're paranoid, or have a very early-model SSD that doesn't have effective wear-levelling. The only reason to use EXT2 is that it does marginally less writes to disk. If your drive doesn't do wear levelling (early SSDs, Compact Flash and SD cards, etc) then cutting down on writes would improve reliability. On a recent 2.5" SSD however, reliability isn't an issue, and you're better off using EXT3 or 4 for the extra performance.
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