I like to set my pagefile size to 512 Minimum and half of my RAM (4096 as maximum). I used to run it disabled, but some applications would fail to start on systems with disabled pagefile (although they could be started with few tweaks) one example is Warhammer Dawn of War (don't remember which exactly).
Another downside is that memory dump after system crash is not available if the pagefile is smaller than 400MB (or so) - hence why my minimum is 512MB. Although I rarely, if even encounter system crash I find it convenient to be able to examine the dump and find out what caused it/what happened.
And finally there's issue BearishSun brought up if you even run out of your phyisical memory, apps will crash. This can sometimes happen if application have some kind of memory leak, or you start many virtual machines at once and forget about your RAM...
So, I find it doesn't really hurt to set pagefile at 512MB minimum. It won't grow unless more is needed.
Intel Core i7 6700K @ 4.6 GHz | Asus Z170 Pro Gaming | Corsair Vengenace LPX 16GB DDR4 3200 MHz | MSI GeForce GTX 1080 FE | Samsung 850 EVO 500 GB + 250 GB | EVGA SuperNOVA 750 G2 | Fractal Design Define R5 | Noctua NH-D14
but there is still physical swapfile on my C: taking 8GB of space - can I safely delete it?
