In theory, putting the pagefile into RAM should make no sense at all, because you're just depleting what you supposedly gain, and Windows is built on the assumption that the pagefile won't be used for such purposes.
In practice however, flawed design and philosophy can make it into even the Windows kernel, and Microsoft's management of memory is not necessarily perfect. Many have found that putting the pagefile into a Ramdisk does indeed result in a performance increase, as long as you have a decent amount of memory.
I compiled a post which shows a collection of such users from a single forum's thread who have found that despite having massive amounts of RAM free, the pagefile is still being used:
http://www.overclock.net/t/1193401/why-it-is-bad-to-store-the-page-file-on-a-ram-disk/290#post_23508589https://www.overclock.net/threads/why-it-is-bad-to-store-the-page-file-on-a-ram-disk.1193401/post-23508589