Misconceptions about the Windows page file
There are some common misconceptions about Windows page file expansion, in that a page file can become heavily "fragmented" and cause "performance issues". The common advice given to avoid this problem is to set a single page file size, and not allow Windows to resize the page file. This is problematic for a few reasons;
* If a Windows application requests more memory than is available from both physical memory and the page file, and Windows cannot resize the page file to fulfill this request, then the memory is not successfully allocated. Many applications (and sometimes Windows itself) will crash (sometimes gracefully, sometimes not) as a result of being unable to allocate more memory.
* Concerns about "performance" are moot when a Windows system is using two or three times its total physical memory. Performance concerns about a further expanding pagefile are not going to be a user's primary concern at this time.
* Concerns about "fragmentation" are not significant when considering how and when the page file is used. Windows does not read from or write to the page file in sequential order for long periods of time, so the performance advantages of having a completely sequential page file is minimal at best. Also, if a large number of pages need to be moved in or out of the page file, chances are quite good that other hard-disk activity is taking place at the same time, further reducing performance.
In short, a Windows system does not benefit from having a locked page file size. A larger "minimum" size will indeed help systems with little physical memory by reducing resizing of the page file by the OS, however if set too high you could be wasting disk space. A large "maximum" will incur no performance penalty.