The virtual memory should be fixed in size, do not let the page file alter its size dynamically. This causes it to be fragmented all over the partition.
If you have a second drive on a second controller, moving the page file to that drive will speed performance a little. It lets the system page at the same time that the system is accessing data on the system drive. Well, almost at the same time
Moving it to your SCSI stripe volume could be interesting :0
With a gig of memory, a large page file will slow the system down. Above a gig, the memory addressing load will start to slow system performance, and windows has a way of grabbing every bite of ram that it can latch onto.
As a rule, the page file should be 1.5 times the size of the installed ram. But I never found any reason for this. Big page files take longer to access, so IMHO keep it small.
No page file can cause problems. Some apps are written to use the page file for some data. This was done to free up system ram back in the day, but it still populates some code. Seti is an app that pages by default. IMHO 128megs is a ball park lower limit.
All things ram are done in 32�s, 32-64-128-256-512-1024. Try to work the page file size in the same increments. It eases the addressing load on the CPU.