I can confirm this. On this computer, I had the pagefile set very low temporarily (I forgot exactly why) and I went to open an older game, it told me that the "swap file" was set too low.
thats because older games relied on the page file then called the swap file for memory access, as the common factor from those days was about 24-32mb of system memory and just wasn't enough. The issue where we didnt need it didnt start to vanish till 4gb of ram was affordable, though with games and apps comming out today along with more feature rich programs 4gb is no longer recomended to do it with and soon 8gb won't either. But that error can be fixed if you open the game in a complier and adjust the code so it doesnt look for a swap file