RAID is very old. Doesn't mean it's obsolete.
RAID0 is about double-performance, but, 'cos you have two drives involved, there's twice the chance of a failure. RAID1 is same-performance, but half the chance of data loss, because everything is written twice. Few people use that at home, though, I'd say. I'll be RAID0ing when I get my 2x300GBs soon.
RAID0+1 (not the same as RAID1+0, if that's the right way to write the other one) has a minimum, I believe, of three disks: two of which are set up in RAID0 (performance advantage) with the third storing some backup data.
Definitely use it, anyway! RAID0 for gamin' an stuff.