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There are arguments that with drives that large you're likely to get at least one error while rebuilding, thereby losing you data. You're much better of with twice as many drives of half the capacity. If you can bear it I'd suggest raid 6 (or even better raidz2 if it'll do ZFS). It all depends how sad you'll be if you lose data...
Disclaimer: I run raidz1 myself, but wish I'd got a larger array and run raidz2.
hamrack
Got a QNAP TS-431 arriving today along with 4 Seagate 4tb NAS drives arriving today to store all my media on. Setting up at raid formation, was thinking raid 5, first time I have set up something in raid formation, is raid 5 good enough? don't want to lose too much storage, and hopefully more than one drive failing at the same time is unlikely?