I've had a RAID 0 for years now with no problems except for the ones I've created. It'll only help you when loading programs or game maps into memory. Programs and maps load slightly faster.
I do play a few competitive on-line games where map load times can determine what class or weapon I play. The speed of my processor plus the advantage of my RAID array always allow me to pick the weapon or class I want because I'm always first on the map.
As far as "fake-raid" is concerned, it's only truly possible to get "real-raid" with a server motherboard and 64bit PCI-X or 64bit PCI slots. Those add in cards that allow "real-raid" are very expensive, usually $350.00 or more, and don't work or only work at half speed in a 32bit PCI slot.
You can always add a third hard drive, separate from your RAID array, to your computer, so you can periodically back-up your array with software like Norton Ghost if you're truly worried about losing data.
It's also possible to dramatically reduce drive failure by cooling your drives with a fan!