As s2firestar noted you can find the default values and the meaning behind each setting here.
I'll try to give you some notes and recommendations on the important settings. NOTE: I am not an expert on this. Every system is different, but you can always delete the settings if you have crashes. That will revert them to default (or just enter the default values below).
fUpdateBudgetMS=1.2 This is how much time is allowed to call functions by papyrus. It's basically the time to control the flow of all the papyrus scripts. It is capped by the game in times of need. So the game will always overtake this resource. People have ran this stable with up to a setting of 800.
fExtraTaskletBudgetMS=1.2 This is the time to run the actual code for papyrus scripts. It works hand in hand with the above variable. It is capped by the game in times of need. So the game will always overtake this resource. People have ran this stable with up to a setting of 800.
iMinMemoryPageSize=128 Information in your ram is stored in "Pages". It has to point to all the different pages to find the information. Making this bigger will allow it to point less often, which is good. But too big will waste a lot of memory.
iMaxMemoryPageSize=512 Based on the same information above. To small and you get a lot of pages. Make sure its bigger than iMinMemoryPageSize and adjust both value in 128 multiples.
iMaxAllocatedMemoryBytes=76800 This is stupidly low, that is equal to 75 Kb of ram allocated to Papyrus. If you fill this up some of it has to be freed before refilled. What ever you set this to will take memory from the game and put it to papyrus. Most people i'd imagine could sacrifice 100MB or so of ram for papyrus, which is a setting of 104857600. Make sure you leave enough memory for Skyrim to run. People run this stable over 1.6 GB it really depends on how much ram you have. Also if this is very large you can make pages larger as well, because you will have memory to waste for the speed gain of larger page. Adjust this in multiples of 128. Here's a conversion tool to see what byte equivalents are. Link
I my self adjust in doubles and halves to find sweet spots, except I would jump up iMaxAllocatedMemoryBytes a good bit. Something like:
So thats 50 MB of ram reserved, with half as many pages and twice the time allotted for papyrus to run. I run these setting as I don't have a lot of CPU and Ram to spare after running Skyrim. This increase would likely eliminate any major problems you have with papyrus, while not demanding much beyond the vanilla.
Edited by Spinner385, 28 January 2013 - 01:14 AM.