I would have thought it would but I did a test with the Pf on both my OS HDD and just on another HDD. the test was that it had to process 141mb of raw data images. MY XP SP2 PC has 2 identical SATA drives and this is what I tested. The test results were the same (1min:45sec) for both, The only difference was the PF dsage amounts. mmmmmmmmmm
By putting the paging file on a different physical hard disk drive. That way, Windows can handle multiple I/O requests more quickly. When the paging file is on the boot partition, Windows must perform disk reading and writing requests on both the system folder and the paging file. When the paging file is moved to a different partition and a different physical hard disk drive, there is less competition between reading and writing requests.