This is not entirely correct. If you care about latency, then it doesn't matter on which major fault your application gets paused. Disabling swap protects you from data pages being evicted, but code pages can still be paged out.
If you care about latency, mlock() your memory, do not disable swap. Swap is good and gives the kernel an equal opportunity to evict data and code pages.
If you care about latency, mlock() your memory, do not disable swap. Swap is good and gives the kernel an equal opportunity to evict data and code pages.