How to configure paging files for optimization and recovery in Windows XP
The optimal solution is to create one paging file that is stored on the boot partition, and then create one paging file on another partition that is less frequently accessed on a different physical hard disk if a different physical hard disk is available. Additionally, it is optimal to create the second paging file so that it exists on its own partition, with no data or operating-system-specific files. By design, Windows uses the paging file on the less frequently accessed partition over the paging file on the more heavily accessed boot partition. An internal algorithm is used to determine which paging file to use for virtual memory management.
I have been playing with pagefiles recently and came across this recomendation. W2K3 complained when I tried to remove the pagefile from the boot disk so it was nice to see this explanation. Windows XP did not complain so I probably will go back to create a minimal pagefile on the boot disk. Since the W2K3 Operating system exists exists on a RAID drive, creating a new pagefile on the old IDE drive will probably significantly help out the server. It makes more use of the pagefile than most SBS 2K3 installs since I did not install enough physical memory for the processes it runs.