VRAM (aka, Virtual Ram, aka Swap File, aka Paging File) was a crutch MS added into Windows during the 90's to help alleviate the needs of programs constantly wanting to eat up more and more RAM.
The idea was simple ... as your RAM got full, switch over to using a part of your hard drive as virtual RAM (VRAM). This locked away a part of your hdd as a file called "pagefile.sys" or such.
The issue with this is it's asking the hdd to do double-duty ... not only read/write files from it's storage, but then read/write them back-n-forth to itself in the paging file, too. Add in defragmentation, of the files and the paging file, and you can have a hdd that's constantly thrashing the heads back-n-forth trying to keep up.
Back then, we had such small paging files sizes (in the tens or hundreds of megabytes) that the speed of the hdd (5400 or 7200, typically) was a bit of an issue but tolerable. (IE: you could tell when the paging file kicked in, because the computer would slow down ... as more and more demand was put, eg: opening more and more windows above and beyond what the ram could handle, the computer would slow to a crawl.)
These days the paging file is an out-dated crutch that should be avoided. For starters, Windows, if left to self-manage the paging file, creates outlandishly huge paging file sizes (in the GB's) based on an out-dated formula to calculate such. The size of the paging files created has increased dramatically ... the speed of a hard drive has not, however. (solid state drives are another matter). This is like asking the runner that used to just have to run to the stock room to temp store things back-n-forth to now run all across a 20-story building to temp store and fetch shit. You've massively expanded the area of temp use, but you're still limited to using the same, poor, slow runner.
As USB & SSD (solid state memory and drives) came out, MS realized it was faster utilizing those. However, they crap out faster with lots of writes to them then a traditional hard disk drive. However, as USB prices went down, it became cheap and easy to get them. MS decided, starting with Vista, to create ReadyBoost. This let you use a USB flash drive like a paging file ... a paging file that relied on faster flash memory instead of your hard drives slower read/write speeds. The flash drive essentially gets sacrifices, though, because sometimes the paging file can really hammer away on it if your maxing out your RAM a lot.
Ultimately, all of this comes down to how you're using your machine. If you're asking an office productivity laptop with 2GB of ram to magically run games, it's going to choke a bit. If you think setting your VRAM to 2GB or more will magically make your performance increase... it won't. If it did, then why not just set your VRAM to 500GB on a 1TB drive ... why not have 500GB of VRAM! yay! It's because this VRAM is limited by the hdd's speeds, which are dog-ass slow compared to real RAM and flash memory (USB & SSD).
The main issue is most people falling back on paging file tweaks are folks looking for an easy fix to bloatware / malware porking up their computer and eating all their resources. It's better to go in and shut all that crap off first. Eliminate what's eating your resources. Then, if needed, stop pushing your machine too far beyond it's limits. A 2GB machine with 1GB of paging file to fall back on or so is ok, but you're not going to magically be able to game Crysis on it on high settings. The paging file is just a crutch that let's you buffer a bit more performance out of your machine in desperate times. It's really better to get rid of the bloats causing resource suckage, upgrade your ram, use readyboost on a usb drive if you can, use a paging file on an ssd (but in that case it's better to buy ram then waste your valuable ssd space) ...and at the very ass-end of things tweak the paging file.
Basically, my opinion is the paging file is an out-dated thing that needs to go away. It's cheaper and more productive to just buy more ram, or use readyboost.