Thanks tomos, PageDfrg gave me the option to defrag my pagefile when I reboot. It says it is 2 fragments, so it doesn't appear too badly fragmented.
When I disabled the pagefile, I also deleted the actual file. So it had to be created again once I enabled it. When I enabled it, I'm pretty sure it's just how it was before. I just let the system decide how much disk space to use, which is 2GB just like my RAM.
I'm not exactly sure what started up the Out of Memory issues for IE though. It only happens if I leave Gmail or iGoogle or Google Reader open for a while. I don't normally use IE but I have a lot of e-mail and RSS subscriptions, etc., on my old Google account, so to be logged in to both of them at once I use IE for the old one.