FYI in addition to FreeNAS here's an additional free storage appliance distribution I've recently heard about:
http://www.openfiler.com/products/feature-summary
http://www.linux.com/feature/146861
Also FYI, I personally agree with taltamir's commendation of a dedicated NAS file server PC running OpenSolaris + ZFS filesystem for extremely trustworthy storage of your data. As far as I know there is no better software OS and Filesystem technology that is available for end user purposes whether free or as a paid OS/storage product. You'd have to be getting into some pretty industrial / high end / commercial storage system hardware and software (think many thousands of dollars) to find good competitors. If I was going to build and administer a PC for a NAS file server, this is what I'd use, and this is indeed what I have chosen.
If you want less complex responsibility for sysadmin, however, but still want a NAS file server implemented in a fullly dedicated PC, then FreeNAS, OpenFiler, et. al. are simple solutions that may be attractive.
If you want a total product solution support as a turn key product then you'd be looking at dedicated purpose built NAS boxes or similar.
If you buy a nice $150-$500 RAID card(s) I'm sure it CAN generally do mirroring wonderfully satisfactorily, just as it could probably do a very satisfactory RAID5 or RAID10 or whatever. The complexity of configuring the product into your OS and administering the storage subsystem will be approximately the same whether you use such cards for RAID0 RAID1 or RAID5 though.
The downside of OpenSolaris is that the hardware compatibility for various ethernet, disc controller, wireless networking, printer, GPU, scanner, printer, et. al. hardware is not anywhere nearly as good as most LINUX / BSD operating systems right now. It is probably SUFFICIENTLY compatible that one can easily select very suitable hardware for a server machine to use this OS from the known / documented compatible hardware. Another downside is that you have to acquire at least a few hundred simple sysadmin skills about how to install, boot, configure, maintain, check, diagnose it to be successful in its use. It is actually much simpler than many other alternatives -- I think it is often simpler than Windows Server, Windows Vista Business, FreeBSD, OpenBSD, et. al. But still it is not something that is intended to be "plug it in and forget about it".
Actually no storage system is "plug it in and forget about it".. you will always need to occasionally diagnose / verify the health of the system, the capacity of the drives, the correctness of the configuration, clean the dust, identify and replace failed/failing drives, test the UPS functions, know how to upgrade / replace drives, et. al.