The software RAID0 7200 rpm drives have a sustained throughput of about 50MB/s each for large reads. The single 15K drive has a sustained throughput of about 80MB/s. If all the drives have 16MB caches, you will have twice as much cache on the two drive configuration, making the RAID0 better on small (high-seek) repetitive reads. So the raw performance of the two drives should be better on a variety of workloads. In general the reliability of 15K drives is lower than 7200rpm drives, but probably not as low as a RAID0 two drive configuration. Check the manufacturer's specifications (usually available at their web site) for the specifics for the drives you intend to use.
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