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Description
intel VX chipset won't recognize SDRAM larger than 16MB correct.

Solution
intel 430VX chipset was the first to support SDRAM and therefore has certain limitations:

1. Only SDRAM modules without SPD-EEPROM are supported in sizes above 16MB.
2. Only SDRAM modules with 8 or 16MBit chips are supported. Most newer modules
are based on 64MBit modules. Ask your dealer for correct modules !

See this page for explanations:
http://support.intel.com/support/chipsets/430vx/KBATDN7V.HTM

With the given specifications SDRAM modules can only be used in these combinations:
8x 8MBit = 8MB
8x16MBit =16MB
16x 8MBit =16MB
16x16MBit =32MB

Largest DIMM would be 32MB (a module with 8 16MBit chips on both sides or with 16 16MBit chips on side but doubled height).

BUT:
Some 16x16MBit modules have timing problems in i430VX boards.
Best would be to purchase EDO modules (commonly called: 72pin PS/2) as they are very cheap and still common even nowadays.