Where diskpart comes in: If your raid 5 array supports expansion it will add the new disk as additional empty space on the existing logical volume. If you have the volume in two partitions, OS & Data you can expand the data partition into the new unpartitioned space without losing any data.
Prerequisites: Must be a basic disk, can't expand the boot partition, the extra space must be immediately next to the partition you wish to expand.
Where it won't do you any good: Software raid since it can't be expanded. Hardware raid that doesn't support expansion of the array to begin with.
If uptime is not a big concern you might skip Raid 5 altogether. For a media server it makes a difference how many clients are hitting it at once. Raid 5 has some performance benifits but if only a few people are hitting at once then spanned disks/JBOD will probably work just fine.
Obviously spanned disks are quite easy to expand without rebuilding/restoring.
Another option: Put a hardware raid 5 together. When it comes time to expand, simply create an additional raid 5 array, raid 1 array (or even some simple volumes if you don't mind losing the redundancy). Then span the logical raid volume over onto the new disks via software.
Another option: Put a hardware raid 5 together, when it comes time to expand simply add new disks to mount points in the original drive's folder structure. If one of the new drives blows you simply lose the contents of that folder and not the whole spanned volume.
FYI, I've got a 4 channel Raid 5 PATA controller gathering dust in the original box. PM me if you want it. I'll sell it real cheap, say $75 - I'll cover shipping. It supports dynamic expansion. Details:
http://www.promise.com/product/product_....asp?segment=RAID%20HBAs&product_id=94