Swap file

I have set the swapfile to be on drive D: and to range in size from 0 to maximum capacity, but every time I look in system properties it tells me that windows is managing its own swapfile. Funny thing is that the swapfile on drive D: changes size, so it must be being used. Anyhow now getting to my question, I've got a pair of drives in RAID0, and I'm wondering if since it's two drives can I run a swapfile partition of <1024 megs and still be in FAT 16, or does a RAID drive still define the cutoff between FAT 16 and FAT 32 as 512 megs?