Moving Swapfile in Mac OS X Lion
I had previously consulted this thread when using snow leopard to move all swap to an SSD:
Moving the swapfiles to a dedicated partition in Snow Leopard
The information appears to be out of date at this point, and replies have been restricted (so the thread can no longer be properly updated).
How would one do this at this point?
The essence of the question to which you refer is now in Ask Different:
How can I move virtual memory swap files to a different drive or partition?
The accepted answer should be good for both Lion and Mountain Lion. I made a Lion-oriented edition.