Now that your raid set is hosed, feel free to experiment with new things. Like a hybrid raid that uses a software RAID 0 to stripe across two hardware RAID 1 mirrors.
First, boot off your Mac OS X install DVD. Open RAID Utility. Use it to create two mirrors. Something like this:

Then, open Disk Utility and play with its software raid features until you make it stripe across those two mirrored volumes you just set up. Like this:

Now install Mac OS X on your new, hybrid, RAID 10, that can handle up to two disk failures (if they aren’t in the same mirror), and doesn’t become degraded in a disk failure scenario, and has very fast rebuild times. win-win-win.
Now, to go out and buy a big external drive to run Time Machine with…..