RAID
Windows (XP or 2000) RAID is slower than hardware RAID because under Windows your CPU has to perform all the I/O related to RAID. Hardware RAID offloads all the I/O processing to assemble data from 2+ separate physical drives to a dedicated processor (just like in a server, for example). Hardware RAID will be MUCH faster than software RAID b/c that's all the hardware does whereas in a multithreading OS like Windows every piece of running software gets a timeslice of your CPU every so often meaning software RAID only gets a fraction of full CPU power (effectively). Finally, not in laptops but in many higher-end hardware RAID controllers there is a battery backup right on the RAID controller so that in a power loss data writes get finished. Of course, you have your laptop battery.
Software RAID 0 will still show somewhat of an improvement over no RAID at all but as some mentioned here you won't be able to boot from a software RAID array. The advantage to Windows' software RAID, though, is that you can install Windows to a partition on one HD, then use the remainder of that HD as well as an equal-sized chunk of the other HD as a RAID0 array. That would leave you one more free partition (equal to the size of your Windows partition) on the second HD. Is it worth it? Depends on your workload, whether you are comfortable managing such a setup, whether you understand and accept that in software (as in hardware) RAID0 either drive frying means all data is lost (=twice the probability of data loss over time) etc. etc. If you have the time, test it and let us know how you fared...
PS I wouldn't even waste my time with software RAID unless I had two of the Hitachi 7K60 7200 RPM notebook drives (hey, actually, I do...

). And if you really need disk I/O (still slowest subsystem...) then I would strongly consider the 8890 and hardware RAID. It's just that much better.