I have been noticing in my task manager that several
programs will load into both regular memory and Virtual
Memory, even when there is plenty of regular memory
available.
That is how Windows works. It always uses Virtual Memory, even if it is
just to assign Virtual Memory to an application.
For instance, my Firefox (not
on the laptop in question) is currently running 28Meg regular
and 24Meg virtual. Hopefully, this is where I will see
speed improvements in the laptop's programs.
I doubt you will notice any huge improvement by moving the pagefile to
another physical drive. It's not necessarily a bad idea, and there might
be tiny improvement, but the only situation that will produce big
improvement is increasing RAM if there is not enough. Hopefully, you
already have enough. If not, purchasing extra RAM shouldn't cost that
much money.
A quick way to determine if you have enough RAM is to open Task Manager
(Ctrl+Alt+Del) and click the Performance tab. Then note the three values
under Commit Charge (K): in the lower left-hand corner: Total, Limit,
and Peak.
The Total figure represents the amount of memory you are using at that
very moment. The Peak figure represents the highest amount of memory you
used since last bootup. If both these figures are below the value of
Physical Memory (K) Total, then you probably have plenty of RAM.
Also, you may explore this further by running Page File Monitor for
Windows XP:
http://www.dougknox.com/xp/utils/xp_pagefilemon.htm