Need advice/guidance in building a DIY NAS

Hello, everyone. After about two weeks of looking into this I still have a few questions.

I would like to build a NAS using Freenas and 4x 2TB drives. This is going to be used in my home for personal use.

I was thinking of using an old Mobo I have lying around:

My initial plan was to use the 4 onboard sata ports to build a Raid 5 array with the 4x 2TB drives. The board would have an Intel P4 3.20 Hyper Threading processor and 1.5gb of ram.

After reading more, I see that people are saying that with a larger size array it's best to go with ZFS. Which would mean that I would have to buy new hardware, which I am prepared to do.

I'm basically seeking some opinions from more experienced individuals...

Should I go with ZFS or should I just use my old hardware and go with UFS?

If I use ZFS, the equivalent to Raid5 would be RAIDZ1? Should I use RAIDZ2?

Should I use more smaller capacity drives rather than less larger capacity drives?

Any suggestions?

Thanks in advance!
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