There are many different ideas for the size of a swap file to use.
If you have 16 megs of ram (ack), try setting it to 128 megs. If you have the space set it to 256 megs.
If you have 32 megs of ram, I suggest trying the same values. 128 megs if you're low on space. If you can afford it, 256 megs.
If you have 64 megs of ram or more, try 180 megs (my sweet spot) or go for the same as the other, 256 megs.
For the absolute best results and a huge performance increase put your swap file on a separate physical hard drive (see above for the picture). I have my swap file on an old 6.8 meg Quantum mode 4 drive and it uses the swap file nearly 1/5 as often as when it was on my UDMA (primary) 9.1Gig drive.
Click OK and the computer will prompt you, click YES, then it will ask to reboot your system.
Handling of memory-
Set up your memory to be used more efficiently. Windows doesn't do a good job with 64 megs of ram or more unless you do this.
Again, right click on My Computer. Go to Properties. Click the Performance tab. Go to File System. Click the box next to where it says Typical role of this machine. Change this to Network Server. Set the Read-ahead optimization all the way to the right. This will again prompt you to reboot, and say yes. Now your system will restart with better memory utilization.
Memturbo is an excellent program that actually frees up system memory and defrags it. The result is a fresh-reboot feeling every time the program does what it is assigned to do. It sits in your taskbar and every so often (you specify the time interval) it frees up and defrags memory.
At the time I am writing this the program is not commercially available, but you can request it from