> Would I gain significant performance increase by using another raid level
> instead of 5, and if so which one, 0+1 (10)?

Only if the writes are >= reads.

> Writes
> wouldn't be all that significant, mostly reporting (reads) and record
> retrieval, with some updating.

Then RAID5 would do. Does this DB/App already run on another server?
Have you got write & read stats for it. What does the DB/App Vendor
say?

John