I might have got it working. I played for 2 hours with no fps probs, as a matter of fact they were way higher than ever (45-50fps in elektro).
I had previously tried the temp fix suggested by Hicks or setting page file to 12000Mb but it did nothing. Today after playing around all day with graphics card and cpu settings, uninstalling drivers, reinstalling etc etc, i was ready to give up when I got a crash (BSOD) after big fps stopage.
On rebbot i took out the 12000Mb page file and let windows do it again, no changes again so went back in and changed min PF to 12201Mb as was suggested by the OS, which I had done before but this time I set the max to double that 24402Mb.
Reboot, check graphics for clock speed and SLI enable, apply the tweaks to force SLI in DayZ. Load game and all seems well, infact better than it's every been.
Not saying it will work for everyone or anyone else as other peoples fixes didn't work for me so it is prob very system specific as to what works.
Maybe it will help find the sweet spot on your system though.
In game it never uses all that PF or indeed all the ram but I did notice it climbs and climbs to the point the game becomes unplayable, with the larger PF max it actually used less PF and seemed to stop increasing in size before it gets to the critical size where the fps drops to 1's and 2's
Hope that helps someone.