What is "Paging file" and how much should the initial and how much should the maximum be?

Answer 1

your page file acts like RAMM when all your RAMM is used up. It is stored on your harddrive. It should be set to one and half times the amount of your RAMM ie: if u have 512MB ram it should be 768MB

your initial should be one and a half times
and max should be twice ie: your 512MB would be 1024MB

Answer 2

The generally recommended size I've read in a lot of places for your page file is 1.5 times the amount of physical RAM in your machine, so you should set both the initial and maximum values to that so your page files stays a constant size.

Answer 3

Simple explanation about paging file:

Paging file is a part of hard drive space will be used as memory.It stores part of loaded programs and applications there. Some extra RAM, called Virtual memory.

The initial amount can be one and a half time of your physical Ram. The maximum can be twice or three times of your RAM. You can sets the minimum equal to maximum amount to prevent windows resize it when need more Ram. If you just playing 3D games, 1000MB should be enough.