I finally.. after 4? years.. pulled the trigger and bought the 4 bay for $239.0 and (5) 1.5 TB 5400 rpm WD Caviar Green drives (oem new Pulls) for $250.
So I am in for 5 bills and have a smart raid that will start with 6 TBs ( with a 1.5 drive back up ready to pop in..) and a whole lotta work this week to get a crap load of info backed up.
I will post some reviews once I get into it.