It is likely that the drive that flagged the error did not really fail or even throw a smart event. I have have been running 6 drives in raid 5 on the intel p55 for a few months now and I have had two occasions where something happened and my data needed to be re-verified. Not very inspiring, but everything worked and nothing was lost. There are issues with using normal HDD's and RAID that has something to do with TLER or whatever. You could be having that happen on occasion. I keep track of which port fails that way I know for sure that there really is something wrong with the drive. If I have the same port throw an error more than once, I start scratching my head and check SMART data. If you had an error in RAID 0 that was not the death of a drive, but just an alarm, the matrix manager would have told you there was something seriously wrong with your array, but it would have still worked as long as the drive was not dying/dead. Then you could just right click it as healthy and it would verify itself and life goes one.
In the pro world, I would hesitate to do a transition unless I had to. Its hard for me to imagine a case where I would need to extend my disk space by adding a drive at work. I could just create another share or add another block of space for a DB and allocate it to the tablespace that needs more disk, etc. But RAID 5 expansion is something that can be done, both in software and hardware. In the business world, if you value your data you will not rely on RAID, yes you will use it for increased availability, but the most important stuff is on tape and likely offsite. Point being, put things that you cannot afford to lose somewhere else besides that RAID if you can. I have an old IDE drive in a case in my closet. Probably not going to break just sitting there.
Good luck RAIDing,
Oh, another things, RAID 10 is nice because ... the data is slightly more protected, write speed is faster if that matters, and rebuild times are muuuuch faster. It just chews up drive space.
pleh, you're using raptors, not sure why it dropped unless it is really dead.