The paged pool of memory is memory that Windows makes available for drivers and OS internal usage - specifically, it is driver/OS memory that is allowed to be swapped to pagefile under low RAM conditions. (By contrast non-paged pool is driver/OS internal usage memory which must be kept in RAM at all times, and is never allowed to be swapped to disk).
Windows XP is severely limited in its handling of pool memory - particularly the paged pool. This means that the paged pool can run short under heavy driver load.
If you've hacked the Win XP boot.ini to use the /3GB option (which does nothing useful, except for high-end server apps), then this will massively cripple the paged pool's maximum size. If you have made this hack (thinking it improves performance with 4 GB of RAM, undoing it may help).
Other things that use the windows pool are system supervisory software - e.g. antivirus, firewall, custom drivers (e.g. for network analysis), etc. Disabling or uninstalling these software packages can free up pool memory.
The more recent versions of windows are much better at managing the pool.
XP is limited to a paged pool of 400 MB - this limit cannot be exceeded. However, because of limitations of XPs memory management, the paged pool may be limited to 100 or 200 MB on your system (depending on your chipset, BIOS, graphics card VRAM, drivers, boot.ini, etc.). 64 bit XP is much better.
Vista and W7 (32 bit) are limited to a pool of 2 GB, and 64 bit are essentially unlimited.
There is a registry modification that might help you (it tells XP to make the paged pool as big as possible during boot, before apps and other stuff get a chance to interfere with memory management - but it reduces your free memory for normal apps).
Load regedit and browse to HKEY_LOCAL_MACHINE\System\CurrentControlSet\Control\Session Manager\Memory Management and set the value of PagedPoolSize to REG_DWORD Hex 0xFFFFFFFF
If you don't know how to edit the registry and restore it if you bork the PC, then it's not recommended that you try that step.