Ok drive isnt under heavy use and there are no bad sectors.
I am curious on the page file message you got. Since Windows uses the page file as virtual memory, if it is having trouble that could explain the slow down.
Go check the page file settings and post a screen shot of what it shows. I may have you trun off the page file as a test to see if performance improves.
Incase you dont know where it is at,
Go to the start button and right click on computer and click properties.
When it opens click on advanced system settings on the left. Under performance click on settings.
When that opens click on the advanced tab. You will see virtual memory or page file there, click the change button.
That is the page file settings
Shane