At last -- someone's got it right!
That's right; you do NOT want to let Windows manage your VM. As Abitec mentioned, you want your pagefile to be as contiguous and unfragmented as possible. Nor do you want to take the performance hit of windows having to grow its pagefile as it needsit.
And if the machine in question is one of many customer workstations, you definitely want to make sure that you specify a ?minimum? file size. Unless you have lots of time to check every customer's computer frequently, you don't want to take the chance of the pagefile's host drive becoming full. How much free drive space they have, is something most end-users aren't even aware of (or care about). So you have to ensure that an adequate amount of space is reserved for your pagefile. And as mentioned before, if you don't feel comfortable with second guessing the upper limit needs of a particular machine -- then don't specify one.
So the bottom line: Let Windows management your swapfile? Just say No!
