My own RAID5 experience comes with a Promise SX4000 and then a Highpoint card. 2300, perhaps?
The SX4000 gave very good sustained R/W speeds when compared to a standalone hard drive. It had some level of hardware-acceleration for calculation of parity data, which likely helped with the write speeds. I also had the board outfitted with a stick of 256MB ECC RAM.
I don't remember what the 2300 managed; I don't think that it has any onboard buffer memory.
In terms of downtime when a drive dies....I don't know why there would be much of any downtime. I had a drive drop dead on the SX4000. The RAID controller gave a warning about a missing drive, but it ran normally, perhaps with a bit of a detriment to performance. I got the replacement drive, plugged it into the array, and it automatically regenerated the drive's contents. No real issues at all.
I'll have to check what kind of drives I've got when I get home. The SX4000 was running 200GB Western Digital drives, and the 2300 is running 1TB Seagates, that's about all I remember.
Edit: Ok, so the SX4000 was also running Seagate drives. 200GB, Barracuda 7200.7, ST3200822A.
The Highpoint 2300 is running Seagate Barracudas, 1TB, 7200.12, ST31000528AS.