Actually... you might run into trashing; as well as greatly reduce speed of your own harddrive if you increase it vastly.
And it isn't going to make too much of a difference if you already have a large amount of RAM (2GB & upward) as your processor simply can cope with only so much. (2^32 bytes for an 32bit processor with all 32bit electronics surrounding it ; 2^30==1GB ... )
EDIT: Typically OS's cap the amout of swapfile & pagefile to be 2-5 times the amount of RAM you have. Still the actual cap is determined by what your CPU can cope with; see above.
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