I think it might just be an issue with how the game detects how much ram you have. It might be overflowing and detecting it incorrectly since you have such a huge amount of ram, and likely more then the developers of the game ever anticipated anyone having.
Perhaps actaully try taking some sticks out of your system and see if that helps, it nots like having more than 8gb or so has any effect on gaming anyways.
FF7 itself is a 32-bit exe, and thus absolutely cannot address more then 2gb of ram no matter what. Mine personally, with a 100% install of bootleg and max settings uses about 200mb-300mb tops..
re: Pagefile, no you absolutely do not want a 64gig pageflie, thats just a huge waste of hard drive space, regardless of how much memory you have. Any poorly coded old apps that care about it are 32bit, thus the same rules apply to them, they cant use over 2gb, so any pagefile over 2gb is plenty. I use 4gb regardless of my ram on any system with 4b or higher, and it works fine on everything.
And im not sure why some of you guys are so incredulous about how much ram he has. If someones crazy and rich enough to buy a GTX690, they certainly would not have a problem buying the maximum amount of ram either, which is 64gb for win7/most platforms, and really not that expensive these days. It's not worth it as it will have no affect on anything he does, but for people who don't know a lot about computers, im sure its actaully not that uncommon for them to want the "most". and in this case, may even be the reason hes getting that error.
So yea, try taking out 4 of your 8 sticks, (take out one from every other slot to ensure you still have dual/quad channel), and see if that helps. Or even all but 1 stick, as even 8gb is way overkill for ff7.
PS: Thanks for bootleg, mines running great even after multiple installs trying lots of options.