I have a 160GB G2...how exactly does one go about reserving XX% space as extra spare area? Is this a toolbox feature?
The SSD has both visible and invisible space. The visible space is visible by Windows etc. The invisible space (or "spare area") is invisible and inaccessible to Windows.
Sandforce SSDs have a lot more spare area than Intel. Your Intel 160GB SSD is actually 160GiB/171GB; but will identify itself as being 149GiB/160GB; so the difference between 'real' gibibytes and 'fake' gigabytes is used as spare area on Intel SSDs; that's about 6,8%.
So Intel SSDs have 6,8% reserve as spare area by default. Sandforce SSDs have 28% space reserved (Vertex 2 has 64GiB NAND but only 50GB is visible). As you can see, the amount reserved by Intel is pretty low.
You can increase the spare area by using partitions. By creating a single partition that is 120GiB large on a 160GB/149GiB Intel SSD would leave the rest (40GiB) unused/unallocated. As long as you do not write to those locations, the SSD considers it its own space and will use it accordingly.
So all you need to do is create a smaller partition than the full capacity; leaving the unused space unused. This will only work on new drives or drives that have been Secure Erased. If you got a used SSD then Windows likely written all over the device; in that case the partition trick does not work unless you use a Secure Erase before creating the partition.
So how does the SSD know which space is for internal use and which stuff is 'external'; well simple: the SSD considers 100% of its space as spare area, until you write to it. So if you partition a brand new Intel SSD properly and leave 20GB unused for example, that space will never have been written to and the SSD will use it internally without requiring anything else.
The good thing is: you do not need TRIM to make this work. This is the preferred method of dealing with several SSDs in RAID0 with the absence of TRIM. As long as you reserve enough spare area to the SSDs, you should not need TRIM at all. Rumors exist that the next generation Intel X25-E "Extreme" will use MLC memory instead of SLC but will have 50% of the capacity reserved by default; these SSDs do not need TRIM at all and may opt to disable TRIM or just ignore the command.
TRIM is nice because the free space on your NTFS filesystem will be spare area by the SSD; while without TRIM any free space on your filesystem will be considered 'in use' by the SSD because the OS previously written to all visible sectors, and the SSD doesn't know which sectors are actually in use and which are not; TRIM literally says to the SSD "i do not need sectors 45, 678 and 985 anymore; do whatever with those sectors you like".
So TRIM is pretty cool, but there is a catch: if you have too few free space on your NTFS filesystem, it will hurt the performance on your SSD. Even with 30% free space, this free space may be scattered across the drive with very few 128KiB Erase Blocks being 100% free; in that situation you would get benchmark scores as in the TopicStart of this thread; though i cannot 100% confirm this is the result of erase block fragmentation; it is certainly a possiblity.
Intel is still investigating erase block fragmentation after use of time with TRIM on a reasonably full filesystem. For now, trying to Secure Erase and reinstall is probably the best thing you can do to enhance performance. And reserve more space to avoid this problem in the future.