It's kind of redundant for that... I mean, all those memory space could have far better use for memory instead of pagefile.
The reason why there is a need for pagefile only when you don't have enough ram to hold the information/data in memory, hence they get swapped out to hard disk space.
I have 512mb ram and my pagefile is kept at 512mb (on hdd), but I don't have the experience of data being swapped to hdd.
My recommendation is to use Ramdisk for temporary space, like Temporary Internet File or other else use. Dont trade ram for pagefile, it's redundant.
Kel.