I think you are confusing virtual memory and the paging file.
Virtual memory is a technique that virtualise the memory addresses in a computer.
http://en.wikipedia.org/wiki/Virtual_memory
By contrast, the paging file extends your physical address space from the physical RAM into the hard drive. But with 8GB already, you don't need to extend it further. So there is no point making your paging file larger.
Most games are 32bit applications. All 32bit applications are given exactly 4GB of virtual address space. This is true even when running 64bit hardware and still true even if you have for example only 1GB of physical RAM. Out of the 4GB of virtual address space your game has, 2GB is reserved for the operating system. So in fact your poor old 32bit game only has 2GB of RAM to play with. See,
http://msdn.microsoft.com/en-us/library/windows/desktop/aa366778(v=vs.85).aspx#memory_limits
Making a bigger paging file will have zero impact on the 2GB limit.
Typically 32bit applications run into problems after they have been running for a while. After allocating and deallocating a lot of RAM their 2GB of address space starts to fragment. So when a big block of free RAM is requested there is no fragment large enough to satisfy the request and you get an error about running out of virtual memory.
Typical solutions are,
- Beg the developer to release a 64bit version of the game.
- Beg the developer to use "PAE". This is a complex hack to get around the limit.
- Beg the developer to write better more efficient code that doesn't use as much virtual memory.
- Use the "/3GB switch" to get 3GB instead of 2GB. But this also only works if the developer makes some changes to the game as well.