Back in the "good old days"
I haven't looked extensively but it appears to me
1) No gain moving pagefile to another partition
2) Maybe a marginal gain on another disk
eg, Ref:
Is it a good idea to change my Microsoft Windows page file size?
3) Sufficient RAM (which is relatively cheap) should place less emphasis on the pagefile.
So in the OP's case I would have thought moving the pagefile to another disk create more problems than it is worth. I use Windows imaging extensively with complete success. The OP's configuration effectively removes this capability in a practical sense.
You are absolutely right. No point moving the pagefile. With e.g. 4GBs of RAM, reduce it to 1GB for the very rare hard page fault that some programs produce - even if there is sufficient availablee RAM. And since the page faults are rare, there is really no performance gain.
I read about moving the pagefile back when I was using XP (~6 years ago).
The theory was that you would get superior performance, because you wouldn't be trying to read/write to the pagefile and OS partition simultaneously.
It seemed like a reasonable explanation to me.
Since I first started using Windows 98 (~10 years ago) it has been my practice to move everything possible off of the OS partition.
My friends all complained that they had to reinstall Windows every 2 or 3 weeks.
They also claimed that it wasn't because of malware.
The only reason I could think of, was that the constant read/write operations, on the OS partition, were causing the failures.
Therefore I moved everything that I could, off of the OS partition.
I only had to reinstall Windows 98 when I got hit by malware or I got a new HDD (so
not every 2 or 3 weeks).
With modern hardware (large amounts of cheap RAM) there probably is no appreciable benefit to moving the pagefile.
My Windows 2K8 textbook recommended:
pagefile = 1.5 x RAM (caveat: see the MS links below)
Here are some MS links:
How to determine the appropriate page file size for 64-bit versions of Windows
How to overcome the 4,095 MB paging file size limit in Windows
I also remember reading (a few years ago) constant complaints about Windows backup (thus I use Macrium).
In any case the solution to the original problem is still the same:Installing some other program to create your backups.
And/Or
Moving the pagefile back to your OS partition (or its own small partition).