I wouldn't use RAID 1 for this, if only because cataloguing all of the gotchas
would be more work than the alternatives. (You'd have to find some way to
know when to swap the disk out without being in the middle of a write,
and you'd be backing up part of your swapfile, and so on.)
Why not get the caddy, and just perform normal backups but to disk
instead of tape? That way you'll know when the backup is done, can verify
it, and can control which files are backed up -- it'd also let you restore
single files, which in my experience comes up way more often than
obliterated disks do.
There are a handful of contributed howtos for backup to disk at
http://www.e-smith.org/cgi-bin/contrib.cgiCheers,
--Rich