A pagefile is supposed to be utilised when your PC runs out of ram. Using ram for a pagefile seems a bit of a waste.
If you have enough ram the pagefile should not be used. Some have already said though that some apps need it. And when you say you moved it from one disk to raid or whatever the reason you didn't see a change in performance is because the pagefile was never in use!
Stick with a basic ramdrive and shove all your temp stuff on it.
In system properties, advanced, environment variables change the user variables
TEMP=Z:\
TMP=Z:\
in System variables:
TEMP=Z:\
TMP=Z:\
Where Z: is your ramdrive drive letter. To be neater you could create a directory Z:\Temp but you will have to recreate that path on every boot so a startup batch file will be needed.
Next change your browse temp \ cache directory to the Z: drive (side note: Especially IE the temp dir size should be minimum as possible. This was for the day of dial up where stuff had to be cached and large temp dirs are more of a hinderance).
If you use any apps which need custom temp dirs (burning software) then point the temp drive to the ramdrive too but beware that you have enough space there.
I have used a lot of ramdrives over the years - since way back in the 80's on DOS. For XP / Vista one of the best free ones is the Gavotte rramdisk.sys based on microsofts original ramdisk.sys.
This version can create ramdrives upto 3gb and in some cases they can be created / changed on the fly. Also never had any stability issues with this one and you don't have to mess with the boot.ini file like you had to with older versions of Cenatek. Works on XP or Vista 32. Haven't tried 64.
http://www.mydigitallife.info/2007/05/27/free-ramdisk-for-windows-vista-xp-2000-and-2003-server/