Yes, a format, then clean install and restore or cloning your drive from your SD! or CCC backup does essentially the same thing as far as getting your data back on the front of the drive and getting your free space back to a contiguous chunk rather than spread out all over the drive.
The SSD standard wisdom comes from them having a limited number of writes prior to failure.
How many years to expect an SSD to last - that jury is still out and how defragging would affect that life span has not been tested.
There has not been much testing of defragging SSDs at all, but one of the PCWorld writers did some experimentation earlier this month and can be found
here. Although, wish he had stated how much space had been used vs free on the drive.
The reports are that SSDs "do" slow down as they become full. At what percentage of free space that happens to begin, don't have a clue and I've not seen suggestions on how much free space to maintain in any of the articles I've read.
I'm still on my first SSD and at only 256 GB, I knew going in that it could not be used for storage of even a percentage of my data. So two years later, and while I'd guess perhaps 1 TB or more has moved on and off the drive, I'm just now hitting 50% used space and still not really "noticing" a slow down the way I have on every HD I've ever owned.
Games like WoW and CoD 2 still play adequately well and just doing a check with iDefrag - still have at least 30-35% of the drive shown as free contiguous space. Don't use this machine for video encoding so can't give a comparison there.