Swap file should be fixed size if possible (it *is* faster) and also in a contingious block near the drive start.
How to do that? Well, if you reinstall Windows onto a blank drive, before you install *anything* else, defrag, set the swap file to a fixed size, then defrag again. So long as you don't change the swap file settings after that, it'll remain in one block near the start of the drive.
Some better defraggers (Norton? not sure) can also do this for you. However, the standard Windows defrag won't touch the swap file IIRC, which is why you'd have to go through the above...Obviously only works if you're installing onto a drive without anything on it. Or if you've partitioned your hard drive, in which case, you should definitely have the swap on the first possible partition.