A couple of possibilities;
Make sure that the System account (NT Authority) has full control of the
%systemdrive% and or the drive your trying to put the pagefile on. My
Computer|Drive|File|Properties|Security|Permissions
Also you'll want to make any pagefile changes through Control Panel|System,
not through Computer Management.
The only fixes for a non-networked pc that I know of is to reset the drive
permissions from a parallel install, or possibly by temp installing the
drive in another NT machine and resetting permissions, else try an in-place
upgrade.
How to Perform an In-Place Upgrade of Windows 2000
http://support.microsoft.com/support/kb/articles/Q292/1/75.ASP
What an In-Place Windows 2000 Upgrade Changes and What It Does Not Change
http://support.microsoft.com/default.aspx?scid=kb;en-us;Q306952
Or
Unable to Log on if the Boot Partition Drive Letter Has Changed
http://support.microsoft.com/support/kb/articles/Q249/3/21.ASP
