The paging file is not the thing to change in this case. Thats set according to the available RAM... 2GB RAM use 1GB paging file (or whatever is right for your setup). In fact setting it too big can be either just a waste disk space or even worse, 'encourage' the OS to do more disk reads (slow) instead of holding data in RAM (quick) What you want to do is change the location of the 'scratch disk'. For example Photoshop has its own settings for location and order of scratch disks, nothing to do with your paging file! If a program doesn't have that setting it may be using the built in 'temp' locations provided by the OS. You'll find four of them in the system settings/environment variables. Set them to point to drive E: or wherever the space/speed is.

regards
prixat