I just increased the SD's swap size to 1.5GB instead of just 768MB in order to increase the time needed between reswap operations. should probably be much better this way.
Using both swaps on microSD card with backup swap on eMMC (for being able to boot, if microSD refuses to work) is very good.
BTW, I agree that flip/flop on microSD only is slightly faster and saves eMMC from wear, but it doesn't affect SD card wear&tear - wear leveling is implemented on hardware level of microSD card, so it doesn't matter - for that case - if 1 or 1 partition is used on microSD (flip could be used all the time, with flop being idle, and wear would be exactly same as with flip and flop used one after another). /Estel