Mailing the story:
Swap Over NFS
"The problem with swap over network is the generic swap problem: needing memory to free memory. Normally this is solved using mempools, as can be seen in the BIO layer," explained Peter Zijlstra. "Swap over network has the problem that the network subsystem does not use fixed sized allocations, but heavily relies on kmalloc(). This makes mempools unusable."