Fulmar, I don't wish to use a paging file, or swap space on disk.  
Regardless of how much physical memory (RAM chips) a machine has, a user program running on it will only be able to utilize as much memory as the O/S makes available to it, the address space.  In this case it's called "virtual" because it is mapped into real memory, not because it is a paging file.
From Microsoft, here is the definition of 
Virtual Address Space, and here are the 
Memory Limits for Windows Releases.
According to Microsoft, 
IF a 32-bit user program is "LARGE_ADDRESS_AWARE" 
AND it is running under a 64-bit version of Windows, 
THEN that 32-bit user program 
MAY use up to 4 GB of address space, and not the usual 2 GB.
Even if Microsoft's memory management implementation is ugly and kludgy and slow, it's just *got* to be faster than swapping code pages to and from a hard disk, right?  Right?
And a 64-bit user program running under 64-bit Windows can address up to 8 TB... 
<nudge, nudge, wink, wink>