The recommended method is 1.5 times your amount of ram.
Yes, that is what is usually recommended but it also makes little sense. I would think that given the same software, the more physical RAM you have the less paging space you should need. I doubt many people with 2 GB of physical RAM really need more than 2 GB of pagefile. OTOH, if you only have 512 MB you should have at least 2 GB available for paging (not necessarily the minimum pagefile size, but the max should be at least that large).
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