ReadyBoost is an "aid" to Superfetch the page-filing utility.
It's effectiveness depends mainly upon two things -1. the type HD - if the
Windows Experince index for the HD is "5" or higher ReadyBoost does not
increase performance - if index lower, as usually for laptops, Readyboost
helps 2. ReadyBoost increases performance when non-sequential read/writes
are involved - HD more effective for sequential stuff.
Also a ReadyBoost cache is included by Superfetch whether or not an external
memory device is attached.
Data sent to readyboost cannot be accessed normally (explorer, etc.) - the
data is encrypted and are copies of data stored by Superfetch which is why
the device can be removed without loss of data.
Another function of ReadyBoost is to monitor data access over time and
improve Vista starup time.