I appreciate the timeliness of this thread b/c I'd been wondering if the ssd side of a fusion drive could be replaced to increase its capacity due to the small size of the 1tb optioned ssd in a '17 fusion drive. Conceptually, it appears the answer's yes but, it would only make sense to do so if the drive was split per Fishrrman's dual drive scheme. Then, of course, the case for an external makes a ton of sense rather than fiddle with the internal.
All that said, and please correct if I'm wrong; when installing windows on a fusion drive the os defaults to the hdd portion of the drive in its entirety, yes? If so, windows would run pretty slow I'd imagine. Also, I seem to recall that windows (10 in my case) cannot be s/u to run from an external - can someone confirm that? (haven't used windows with any regularity for yrs)
What about windows on a fusion drive using vm? Windows still slow?
Can the "SSD side" of the Fusion be replaced/upgraded? The Flash storage blade is proprietary to Apple, and is not available from other sources. So, the only way to upgrade the blade is use a 128 GB blade salvaged from another iMac. You may also want to check ifixit.com for the procedure - it's rated "difficult," and for good reason.
Again, because of the way Fusion works, "small" only matters if the way you use your Mac actually requires more Flash storage (see my analogies to RAM in previous posts). People look at "32 GB" and just assume they'll need more. It seems so pathetically small, but you could upgrade from 32 GB to 128 GB and never notice a difference in performance, just as many Mac users could upgrade from 8 GB to 16 GB or 32 GB RAM and not notice (or measure) the difference.
Simple rule of thumb, whether you're talking about cars or computers - buy only as much capacity as you can practically use. If you do all your driving on city streets, you don't need a 12-cylinder racing engine. If the most cargo you carry is a half-dozen bags of groceries or a couple of suitcases, and you never have to seat more than four passengers, you don't need a seven-passenger minivan.
Fusion exists to make economical use of an expensive commodity. It manages that precious stuff in ways no individual can achieve by splitting the Fusion storage into separate, manually-managed drives.
Now, on to Windows...
You're right. If you create a Boot Camp partition for Windows on a Fusion machine, it'll reside on the HDD. The Windows operating system does not support Fusion, so it has to work within the bounds of what it does support - a Windows-formatted partition. At that point, one of my basic rules of thumb takes over - the slower your HDD, the more RAM you'll want to have.
You're basically right about not being able to boot Windows from an external drive. The Microsoft Windows installer does not want Windows to be installed to an external drive, and Apple's Boot Camp Assistant essentially respects that reality. However, there is a way (you can Google "Boot Camp on external drive"), which brings us to your next question...
You
can run Windows from an external drive by using VM. Windows will then run as quickly as the external HDD or SSD allows. Since the virtualization software would be running on the Mac (Fusion) partition, you'll see some performance benefits there, but since VMs place additional performance demands on the system, it's hard for me to say how much of a benefit it will be (although, obviously, the VM will run faster on a Fusion Mac than on an HDD-only Mac).