I do indeed run a RAID 0 setup right now. . . and have for about 2-3 years. Only once did I have a major issue and lost a drive. I do run my RAID 0 array as storage setup with my OS on a separate drive. That was if I do lose my RAID array, I still can boot and hopefully recover and/or repair some data.
RAID 0 is significantly faster in benchmarks, but the performance when oading games is not nearly as large. This is likely due to caching and other operations that happen. . . not just transferring data. Large data transfers from drive to RAID, and from RAID to RAID are much faster when using RAID 0 that just a single drive. As far as RAID 1 goes, it is slower than a single drive. This is because the computer has to compute reads and writes to two drives instead of just one.
Again, in benchmarking this will be quite apparent, but in real world usage it is not as big of a deal. If you tweak a RAID 0 array, it can fly and you will be loading UT2004 & levels in 5 - 10 seconds or less.
I'm happy with RAID 0 and backup vital data onto a removable drive or other hard drive. If you don't need the security, I'd go with RAID 0. . . why not get the most from your drives? You could also just run two independent drives as well. Same storage of RAID 0, slightly less performance, but all you data won't be lost if one drive faiils.
I guess it really depends on whether you need 200GB of storage or 400GB of storage.