once you have the drive formatted you will want to partition it...the first partition should be twice the size of the ram you have installed or if you plan on adding more twice that number...name it swap...then your going to set the entire swap partition for your swap file...set the minimum and maximum to the same number...the remainder of the drive can be left whole or further partitioned as you see fit...
then you will set the swap file size on your system drive to the minimum it says it will allow
(its a few MBs)
what this does is give you a nice speed boost by putting the swap file partition to the fastest part of the 2nd drive and by setting the min and max to the same number keeps windows from wasting any cpu cycles trying to determine how big it should be