ok, let's say I use a hw raid controller (3ware) to create my raid5 array (*): will SME's installer work?
I didn't try that. Ask the devs. It's all about your own
view on risk management. Losing my server is bad enough,
losing my data library would be much much worse. I have
always backed up the server and my library data in
different but appropriate ways. YMMV.
I would be in the same situation even with raid1.. 
Granted;~) Recovery/format/sync takes FAR FAR FAR
too long believe me. Last time I tried (v early SME8 beta)
off the top of my head just the installer format took
something like five days... with four 1TB drives RAID5
nospare but I forget just what CPUs flavour it was at
that time but it would've been reasonably fast stuff.
The sheer logistics of data management and the
necessary transfer of same become unsustainable.
Big TB stuff needs a re-think. Go with good h/w RAID5
or better (6 etc) and spare a thought whether your
UPS can cover things appropriately in the timescale
of power episodes (h/w RAID card + internal battery)