Sharealike's mods certainly will beef up the weak areas of the clutch, but I don't know if you could call them 'permanent' meaning the clutch will never again cause you grief. The SV motor can put quite the beating on things if ridden in certain ways, so how your ride is involved in the lifespan too. Seems that those that tend to lug them with lots of throttle encounter problems sooner than those that keep the 'R's up. But the Sharealike clutches get nothing but rave reviews from everyone who's used one....so go to him with confidence.
Just as an aside, if you're in a hurry...putting a new basket in will cure the ills for a time...but it'll develop the looseness sooner rather than later. But if you pop in a fresh basket..then you'd have one to send out for the better repair and not have the bike apart for weeks.