That is a nice site with information about raid.
However this one may be a bit easier to understand:
http://www.acnc.com/04_01_00.html
For the most part, each version of raid has their advantages, however raid 0 and 1 require 2 disks and raid 3 and 5 will require a minumum of 3 disks.
Raid 1 would be great as you would be able to mirror the other drives data and easily retore the data incase of corruption or whatever.
Raid 5 will be striped and will take up about the same ammount as just one drive, the nice advantage would be you have enough information if one drive fails you could restore the failed disk.