RAID = Redundant Array of Inexpensive Disks; there are different types, or "levels." RAID 0 is sometimes used on the desktop for performance reasons, but really isn't worth it and seems to be more prone to failure. RAID 1 mirrors data over two hard drives for backup. Some on here would advise you don't do any RAID except for hardware RAID 5.
SATA = Serial Advanced Technology Attachment; the eventual successor to Parallel ATA/IDE. The interface itself provides no immediate benefit, but will facilitate 150 MB/s transfers and offers some new features like Native Command Queueing with SATA II (though NCQ is really only useful in a server environment). The one advantage right now is the availability of 10,000 RPM drives, though many still don't see them worth the price delta over 7200 RPM drives at the moment.
EDIT: Expanded; I had just a skeleton placeholder in here
Discussion Zen 5 Speculation (EPYC Turin and Strix Point/Granite Ridge - Ryzen 9000)
Discussion Intel current and future Lakes & Rapids thread
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