I've always found it scary to have the pagefile living inside my filesystem with my data. Unix used to force you to dedicate a separate partition just for swapspace. When I first started using Windows (Win95), I didn't trust it. And in those days, I probably didn't have enough RAM to expect to never be able to swap. So I didn't want to remove the pagefile.
Ever since I install Windows on a machine, I first create a separate partition, just for swapping. I used to make it 2x the size of the physical RAM. I see the point of having your virtual address space larger than your physical one. For emergencies. But there is no point in making it too big. Once you start swapping heavily, you're gonna lose performance in a big way anyway. So my previous system (with 4GB of RAM) had a 8GB partition, with only the pagefile on it. My current system (8GB of RAM) has a 10GB partition with a 10GB pagefile. I always set min and max to the same size. Because when paging out pages, which slows down the system, I don't want the system to start messing with the filesystem too, when it has to grow the pagefile. By having a single partition with a single pagefile that never changes size, I also hope to prevent problems with fragmentation.
After reading all this, I don't see a reason to change the way I configure my system. I realize now that I can't do crashdumps. But who here has ever analyzed a kernel crash themselves, or has Microsoft look at their crashdumps ?