1 gig is definitely enough. If you are running lots of programs and don't want any lag that a pagefile can cause, then 1 gig is great. I opted for it just because I hate pagefiles with a passion, and even now, I don't use more than 50% of it anyway, even in the most memory-demanding applications (ie games).
I do gotta say, there was a performance gain on my system when i went from 2x256 major brand pc2100 to 2x512 corsair PC3200 @ 266mhz and lowest latency settings my mobo can handle (Asus A7A-266). It really was noticeable. I've got the system listed below, but as I keep telling everyone, it's in 40 boxes in my room because I'm too lazy to put it all together and set it all up, at least right now. I'm also waiting on the vid card, so that hampers my desire to finish setting it up. Oh well.
XP 2500+ Barton
A7N8X Dlx
2x512MB Corsair PC3200
ATI 9700 Pro
16x DVD-ROM
2x80GB 7200RPM Maxtor
Onboard audio
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