I've got a couple of Arecas out there. They seem fine. But I don't use RAID 0.
As to whether you NEED a $300 RAID card to do RAID 0....probably not. Many of the card features (alarms, rebuilds, migrations) won't do you any good because a single glitch of one of your hard drives will take down your RAID 0 array anyway. RAID 0 (and RAID 1) take very little CPU effort to accomplish. What you DO need is reliable hardware, firmware, and software for your RAID card. Those probably get "more reliable" as the price goes up.
I've used several low-end Highpoint IDE and SATA RAID cards over the years. Mostly their lowest-end ($70 or so) cards. I've never had a (RAID 1) array down. I just bought a HighPoint 2310 card for my new server. I got it for a very cheap price and didn't want to spend over $100 for this.