Whoops, missed this one before.
QTS, I don't believe you are correct.
1. You do not need as much swap file as you have RAM given that you have a lot of RAM. This depends on what applications you are running of course. With folks having 512 Megs of RAM much of the time, even a 350 Meg swap file is normally plenty. I've seen production Win2k Servers running 512 RAM and a 500 meg swap with no problems. The only reason you need a swap of RAM + 11 Meg is if you want to be able to have your RAM contents saved in the event of a serious system crash with NT4/2k and I presume XP. A gaming machine doesn't need that, it's a waste of space.
2. You DO NOT need ANY of your swap file on your boot partition. In fact, NT/2k/XP runs much better if you move your swap file on to a separate physical disk. If you have various partitions on one physical disk, it's completely irrelevent which partition the swap file lives on. The OS won't care one way or the other. Splitting the swap file to have a few megs on the boot partition is not necessary or desirable. Either put it all there, or none of it. The most important thing is to have your swap file be contiguous (not fragmented) and have the min and max size set to the same number. (so it doesn't grow and fragment at that time)
By all means, play with your virtual memory settings and find what works best for you. Just make sure you always set the min and max size to the same number, put your virtual memory file on a separate physical disk from your OS is possible, and be sure to defrag your disk before and after any changes.
Remember, the OS must expend resources to manage your swap file, so you don't want it to be too large. If you really want more information, fire up task monitor (cntrl-alt-del in Win2k/NT/XP) and watch your Performance tab for the MEM Usage. You'll notice that your physical memory total plus your swap file size will equal your Commit Charge Limit. Close taskman, and fire up AH, and whatever else you often have open, say email and your browser. Get those programs doing something. Now cntrl-alt-del and bring Task Man back up and look at your Peak under Commit Charge. That's how much memory you used peak. If your peak is well under your Limit, you have plenty of virtual memory. Ideally, your Peak Commit Charge will be lower than your ammount of Physical memory, so your system won't be touching your swap file at all. With enough physical RAM, you don't need much of a swap file at all.
Having about 300 around just to be safe is a good idea. After that, don't increase it unless you run out for some reason... and even then, if you have at least 256 Megs of RAM plus a 300 Meg swap, if you run out of virtual memory it's likely indicative of a problem with a particular application, not a sign your swap file is too small.