I know it's not supposed to happen, but as you have plenty of memory, Windows has probably allocated a large pagefile for virtual memory, and I wonder if it has become fragmented? Likewise a hibernation file will be at least the size of your installed memory. Together, that is probably 10 GB of your disk space gone.
If windows has to write significant amounts of data to these files, and has to also write to several places on the disk, normal performance will be held up.
PageDefrag:
is one remedy, but IMO there is a better way. Pagedefrag can mean slow startups, and occasionally freezes itself.
I turn off hibernation, as I am not going to lose that much storage for a feature which is little better in energy savings or time than standby, on my hardware.
I create a small swap partition, a little larger than the installed memory - my 2.5GB installed RAM is supported by a 3GB partition for the page file. It can be done by the windows disk management console if you have sufficient space at the end of the drive - shrink the main drive by about 5GB in your case and then change the virtual memory to no paging file on your system disk, and a windows managed page file in the swap partition. Unless you are video editing, writing large dvds, have big Databases running, you will never need that much, even for a full memory dump.
The beauty of this is that it never needs attention again. If you multiboot into different versions of windows, they can all share the same swap partition, just overwriting the existing pagefile.sys.
Indexing has always been a pain in Windows, I turn it off whenever I see that indexing is enabled. All the stuff I need to sort thru is on external storage anyway.