There is merrit to what you have said RJ162.
When a blue screen occurs I analise it..Therefore it's necessary to get a full dump.
Regarding the page file location, It's just a standard that we locate the page file on the System drive, if you chose not to have it on the System drive you may not be able to get a full memory dump in the event of a blue screen. On the performance front, there is no performance benifit to putting a page file in a different volume yet on the same spindle..If you can't put your page file on a different spinfle (physical Disk) you have gained nothing