http://www.aumha.org/win5/a/xpvm.php "In earlier NT systems it was usual to have such a [swap]file on each hard drive partition, if there were more than one partition, with the idea of having the file as near as possible to the ‘action’ on the disk. In XP the optimisation implied by this has been found not to justify the overhead, and normally there is only a single page file in the first instance."