My group has been playing since 1st Ed. AD&D, and when we came into 3.0 we had a really high-level group. We saw with the SR arms race from the top down. 3.5 calmed it down a bit, and these rules are carried into Pathfinder, however, we know where the path leads when it comes to SR. And we didn't like it.
Consequently, we decided to ignore SR altogether; but this is not satisfying either, as some critters are just supposed to be resistant to magic.
So, here is our latest take on SR: We divide SR by 5, rounding down, and make it a resistance bonus against spells and spell-like abilities. But, it also acts as Damage Resistance vs. spells and spell-like abilities equal to the SR divided by 2, round down.
Admittedly, we haven't gotten any real playtesting on this, as our current campaigns are all lower level. But, it's something to try.
Note for clarity: in this rule, SR no longer causes a caster level check to penetrate.