Even though you might have enough physical RAM, the system still has to move data out of phsycal RAM to the pagefile. If the OS does not have a large enough pagefile, the OS will have to release some threads in some applications to make more room in physical RAM.
The crash dump is used to troubleshoot problems within your OS. For instance, if you wanted to know if the crash was due to a hardware problem or a software problem, the crash dump will tell you what was in memory and what happened. You can then see if the problem is hardware or software related.
A crash dump is very necessary, and you should care about it, especially if the crash was on a production server. With out it, you could have a hard time figuring out what caused the crash.
But, in order to utilize a crash dump file, you will have to create a pagefile that is on your boot partition that is the size of your physical RAM + 2MB. You will not be able to "spread" this file over multiple physical disks.