Considering that Windows makes heavy use of the pagefile even with huge amounts of RAM available, is it not best to have this pagefile on the fastest disk possible as close to the virtual systems as possible?

I'm thinking, RAM disk.

Where I work, storage for VMs is out on a NAS/SAN. I'm worried that so much memory access is having to go across the network!

As a side, I think its about time MS got rid of paging and told us to buy more DIMMS.

UPDATE

So this question has been downvoted??!

Accessing a local spindle is C40,000 times slower than a DIMM, so going over the network will be even slower for hard faults. I don't know why I got the downvote, I'm certain that this is an issue unless there's some other mechanism in ESX/HyperV that manages this.