I believe you can always turn off page file, but why would you?
Sure, it's not helping performance any with 2GB of RAM, but it acts as a safety net if you happen to be doing something (say playing a game) that caches more than 2GB of files (textures and such can get pretty big), and if you have a memory leak lacking a pagefile will cause your computer to crash instead of grinding to a halt like it will with a pagefile.
I believe you need one to do memory dumps as well, but I could be wrong on that.