On the face of it, yes. And, most of the time, this will work well. However, you are then at the mercy of Window's memory manager - any sudden requests for memory from any other process are likely to result in some of SQL Server's address space being paged out. It is an inviolable law of the universe that it will occur at the most inconvenient time.

There are many things that can cause sudden demands for memory from Windows, even if you lock the server down and carefully control who has access and what processes can run. Not being able to lock memory for SQL Server on 64-bit Standard Edition just introduced a whole new set of avoidable problems.

Paul