Sorry about the misspeak on the RAID and backup, I need to work on my typing after a long day. (really no excuse since the 1 and 0 are on opposite sides)
Using a RAID 0 on a server is total insanity.
Anyways I think that RAIDing a server is a great idea. Using a simple RAID 1 and a good back up plan should be sufficient. Adding an additional RAID 5 for data (additional 3-4 drives and controller) I think may be a little over the top. But that is my opinion.
RAIDs are not difficult to manage and pretty effective.