Depends,
yes if you use hardware raid,
no if you use software raid.
yes if you want to transfer file which won't effect system,
no if you want to include file like /etc/fstab, /boot/grub/menu.lst, /etc/cryptab or etc mission critical file
yes if you want to transfer entire OS to new harddisk and you know how to recover grub,
no if you don't know how to repair grub or lilo.
yes if your sistem support your new raid device,
no if your sistem not support the raid5 device.
I sure you understand what I means.
Ks