I'm sure the first install created a swap partition that was set for 192MB, so it should be fine for 128MB.
That 2-3x was the old rule of thumb... I have 256MB of RAM on my laptop, and don't remember the last time it had to swap anything. The new rule is don't waste space for swap you'll never touch. Unless you are dealing with many simultaneous users, or huge multimedia file editting, 128MB of swap is more than enough for regular use nowadays.