You significant question should be how to locate the pagefile.
If you have a typical Mobo with 2 X IDE Controllers, it benefits little to
run more than 4 hard drives.
Partitioning will provide 'logical' devices, however the performance
limitations are the number of controllers: both IDE Controllers and the Hard
Dsk Controller s [cards on the IDE Drive]. Basically each one can manage
only one instruction at a time.
Thus if your Operating System and Applications are on the C Drive -
connected to IDE0, then you will gain some benefit if the Pagefile is on a
second Drive [D Drive] which is connected to IDE1. Such that where I/O is
taking place on the C Drive, there is an overlap for I/O to take place on the
D Drive.
Of course you need to consider the memory BUS and system BUS, but suffice to
say there is a benefit.
Now if you have 3 drives [physical or logical] and the Pagefile is on the
third drive [itself a 'slave' on IDE0 or the second partition of Drive0] then
if the first drive is busy, then if either or both the IDE controller and the
Hard Drive controller are already busy, there is no advantage is moving the
Pagefile.
Clear as mud? I hope not.