Yes.  In fact I was just sitting down to write up a design for a new 
readahead-handling strategy that incorporates this idea.  Here are my design 
notes so far:
  - Readahead cache should be able to expand to fill (almost) all
    memory in the absence of other activity.
  - Readahead pages have higher priority than inactive pages, lower
    than active.
  - Readahead cache is naturally a fifo - new chunks of readahead
    are added at the head and unused readahead is (eventually)
    culled from the tail.
  - Readahead cache is important enough to get its own lru list.
    We know it's a fifo so don't have to waste cycles scanning/aging.
    Having a distinct list makes the accounting trivial, vs keeping
    readahead on the active list for example.
  - A new readahead page starts on the readahead queue.  When used
    (by generic_file_read) the readahead page moves to the inactive
    queue and becomes a used-once page (i.e., low priority).  If a
    readahead page reaches the tail of the readahead queue it may
    be culled by moving it to the inactive queue.
  - When the readahead cache fills up past its falloff limit we
    will reduce amount of readahead submitted proportionally by the
    amount the readahead cache exceeds the falloff limit.  At the
    cutoff limit, no new readahead is submitted.
  - At each try_to_free_pages step the readahead queue is culled
    proportionally by the amount it exceeds its falloff limit.  A
    tuning parameter controls the rate at which readahead is 
    culled vs new readahead submissions (is there a better way?).
  - The cutoff limit is adjusted periodically according to the size
    of the active list, implementing the idea that active pages
    take priority over readahead pages.
  - The falloff limit is set proportionally to the cutoff limit.
  - The mechanism operates without user intervention, though there
    are several points at which proportional factors could be
    exposed as tuning parameters.
The overarching idea here is that we can pack more readahead into memory by 
managing it carefully, in such a way that we do not often discard unused 
readahead pages.  In other words, we do as much readahead as possible but 
avoid thrashing.
The advantages seem clear enough that I'll proceed to an implementation
without further ado.
-- Daniel - To unsubscribe from this list: send the line "unsubscribe linux-kernel" in the body of a message to majordomo@vger.kernel.org More majordomo info at http://vger.kernel.org/majordomo-info.html Please read the FAQ at http://www.tux.org/lkml/