i currently have 4TB of digital caviar black 1tb hard drives. i'd like to turn those into a RAID 5 for a video editing scratch disk (software RAID for now, RAID card when i can afford one)
Not recommended for three reasons:
1. Software based RAID is NOT up to the task of a level 5 array, as it has absolutely NO provision for the write hole issue associated with parity based arrays. A UPS helps significantly, but it's still not as good as a proper hardware controller (such as additional recovery techniques in hardware not available via driver based setups).
2. For a RAID 5, you really need to run enterprise grade HDD's, and this is especially the case with hardware RAID controllers (it has to do with the recovery timings, and SAS is notoriously picky with SATA drives, which most of the higher end controller cards are moving to SAS).
3. RAID 5 isn't necessary for scratch (it's wasteful of resources, and actually could do more damage to the drives due to the increased stress levels - write environment). RAID 5 is suited to valuable data and availability (uptime of the system).
Also keep in mind, that Disk Utility (OS X) only offers you 0/1/10, so RAID 5 has to be done through 3rd party offerings. There is something known as a Fake RAID controller, which is nothing more than a SATA controller chip + drivers (no processor or cache). Which you will find on true RAID cards, and it's the cache + emergency power that comprise the NVRAM solution to the write hole issue with parity arrays.
i just purchased a 2TB digital caviar green drive that i'd like to install internally as well, either in the optical bay or in one of the sata sled slots, and use for a OS boot volume. as a secondary concern, if i can i'd like to make a partition of the disk that is safe for booting windows 7 but i understand that there's something about how this drive writes/reads blocks of data that doesn't work well with windows.
If you mean to use one OS disk for both OS X and Windows, it's possible via Boot Camp. But this seems to cease to function if the RAID is created under OS X (0/1/10), and I can't recall if this has changed (seems Disk Utility modifies the system firmware).
It is still possible however, if you use a hardware RAID controller. If you go this route, you'd want to pay attention to the HDD Compatibility List to see what was passed, and chose your drives from that (known to work, so it saves you seemingly endless hassle).
#3, can i put one of the RAID disks in the optical bay instead of my boot volume?
It will depend on the specifics you chose (details as to cabling and perhaps necessary adapters to function with the HDD bays).
What exactly are you looking at/doing?
If you wish to use RAID 5, I'd recommend looking at Areca or ATTO (Highpoint in a pinch, but the value isn't what you might think from the prices). Highpoint has poor support (your own skill level could negate this, sae the issues obtaining firmware if you should ever want to boot from it - all 3 brands listed do offer EFI firmware in order to enable boot capability), and a lack of included cables which negates the price for some.