Hello Sanserif, and welcome to Seven Forums.
There's no danger in allocating more space to the page file other than having less free space available on the HDD. Windows 7 actually does a great job at managing the page file though, and it's usually fine to just leave the page file set to be "System Managed".
What could help improve the performance of the page file and Windows 7, would be to move the page file to be on a separate physical HDD than the one Windows 7 is installed on. Virtual Memory Paging File - Change - Vista Forums
Since you are interested in speeding up the performance of Windows 7, the items listed in the tutorial below may be able to help with that as well. Optimize Windows 7
Hope this helps,