To answer lulabob's question - what you need to do is to monitor your memory usage for a while to figure out how much memory
your applications use up when you do the types of things
you normally do on your system. Nobody else can really tell you what
you need because everyone's different.
Start Task Manager (Ctrl+Shift+Esc), click the "Performance" tab, and keep an eye on the memory graph. Make a note of the highest that the graph ever gets to. Take that number, add something like 25% to 50% (or however much you're comfortable with) as a safety margin, and that's how much total RAM
plus Pagefile space you need.
For example, if the highest you ever see is 6GB, adding 50% gets you to 9GB. So the total RAM + Pagefile you need is 9GB. If you have 8GB of RAM, that means you only need 1GB for the pagefile.
It's entirely possible that you don't need a pagefile at all. My system has 12GB and I've disabled the pagefile completely:
http://i141.photobucket.com/albums/r64/SMN-8711/Computers/NoPaging.png