Well, you should lock pages in memory however you configure, in order to avoid flush to disc.
The advantage of Min memory is that it will garuntee a minimum amount of memory will be available to the buffer pool, even though it will not all be allocated on start up, once reached, it will not drop below.
When considering max mem, remember that this is just the amount for the buffer cache, and SQL can use more than this in total, because of other caches, etc.
You would normally set them both to same value if you want a fixed amount of resource for SQL, but if you are managing other apps on the server (as you are) then you will often set min and max values differently, to give your apps more mem when SQL not using
it.
<edit>You are right about min memory not taking effect until this level is reached.</edit>
There is a good article about this on MSDN
http://msdn.microsoft.com/en-us/library/ms178067.aspx
Hope this helps.
Peter Carter-Greenan http://sqlserverdownanddirty.blogspot.com/
