Hi darklight,
By 'typical serial position effect' I assume you just mean the normal U-shape? Not sure how the graph looks like in TSSM, but I believe the graph would be the typical U-shaped graph, except there would be no recency effect i.e. the beginning of the graph would be higher than the end of the graph.
When you use serial recall, the serial position effect still occurs, but the
recency effect does not occur. This is because of exactly what you said - since STM only holds items for 18-20 seconds, by the time we get to the end of the list, these items will no longer be in our memory. This means that the primacy effect will still occur, because the items have been transferred to our long-term memory.
I don't know if this is what you're looking for, but I hope I helped.