No, it's not recommended, even for a RAID 5 configuration, let alone a RAID 0. The problem is that when you're installed on a complex RAID configuration (and any striped configuration is considered "complex" here), if you have a serious issue with it, and your OS is on it, you're dead. You can't get boot the OS, you pretty much can't do anything unless you install the OS on a separate drive and go from there, and even then you might not have any luck getting the original OS working.
Consider keeping the OS and important stuff on one drive (or two), and all the replaceable programs and data on the other in the RAID configuration. Even copy the saved games/etc., across once in a while.
There's some chance that you'll have absolutely no issues with the RAID 0 in its expected lifetime. However, there's a chance you will, and if you did have even one issue, it'd be far better to not have that issue spill over to your OS.