Another link with good advice is http://blogs.technet.com/b/clinth/archive/2009/09/03/the-case-of-the-enormous-page-file.aspx from Clint Huffman, a Microsoft PFE.
I run my machine at home without a page file and have had no problems, but probably I am wasting about 150MB memory for the host and each active guest that could have been put in the pagefile.
If you want to allow your 128GB machine to take a full memory dump then allocate pagefile space big enough for this. Be aware that writing this amount of data to a single pagefile could take maybe 20 minutes depending on your disk subsystem. You should take a view on how long you can allow the dump process to run for, and create multiple page files across enough disks to meet your dump time target.
If you want the machine to automatically reboot and get back into service asap then you need to question if a full dump or a snap dump best meets your needs. Microsoft reckon they can solve most OS problems with a snap dump, and this can easily be emailed to them.
If you reckon you need the ability to take a full dump for any OS failure, then also work out how you will get it to Microsoft. You are probably talking about copying it to external media and using snail mail.
Having taken all the advice I have seen into account, my view is to always use a pagefile, and set it at a fixed size. I would use 4GB for a machine of up to 64GB memory, and probably 8GB for a 256GB machine.
Original author: https://github.com/SQL-FineBuild/Common/wiki/ 1-click install and best practice configuration of SQL Server 2019, 2017 2016, 2014, 2012, 2008 R2, 2008 and 2005.
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