Hi.
If guess the question is more general than technology specific.
The question is if your item states are sequential.
If your answer is YES then most probably sequential workflow model will be enough for you. Else use of course state machine.
And about
wrote:
thousands of ever-running workflows
I'm not sure I got you right..
If your items/workflow can remain in some state pretty long time, then I'm sure it's a good reason to park you workflow and save your state.