There is no reason to use RAID0 from a performance perspective. Streaming even 1080P video requires very little bandwidth...only about 2-4MBps for sustained...10-20MBps for the initial buffer. So do not consider RAID0 based on the performance increase. It's not worth it after the time you spend amassing a large collection.
RAID1 is the easiest way to get protection, but looses the most amount of space. RAID5 is a good compromise between space efficiency and protection. If you have a Mini (or anything less then a Mac Pro) then you will probably need to buy one of the Drobo type housings in order to get RAID5. Mac Pro's can use something like MacZFS software based redundancy (thus keeping cost low).
RAID1 is the easiest way to get protection, but looses the most amount of space. RAID5 is a good compromise between space efficiency and protection. If you have a Mini (or anything less then a Mac Pro) then you will probably need to buy one of the Drobo type housings in order to get RAID5. Mac Pro's can use something like MacZFS software based redundancy (thus keeping cost low).