You see, though, if you create each of those pages with the Layout already in place, it takes very little work. Just a matter of copying over already determined code.
Frames work well, in theory. However, they often are quite disrupting to the design and are an eye-sore. That's not to say they can't be well done, no sir, but more often then not, they're not so good to look at.
With the Navigation on a side, or where ever it is decided to be, it can easily look in place with the rest of the layout. Also, it's true, if your site does become large enough, you may have a lot of room on your hands. However, that's where a good layout comes into play. If you're ready for that, it's no hassle. It just takes some fancy Image mapping.