Hey guys, looking for a little advice on my nas build.
Im looking to build a storage unit to house all of my important data, pictures, dvd rips, music etc. I plan to stream from the nas to my pc and eventually an htpc. I will also be using it as an image backup from a 2 systems. Also I may be using the box for other things eventually, such as hosting to the web, who knows really. Should i call it a Nas, or server build?

I plan to goto college for IT studies in the near future, so please dont hold back any suggestions you think may be too complicated, I'd like to learn as much as possible.
My budget is going to be fairly low, i am currently unemployed as i just moved to Ottawa. Dont want to spend more then about 500 for drives and other items needed.
The following parts that I have on hand, I plan on using.
Asus p5n73-am
e5200
2 gigs ram
pc P&C 430 watt psu
(perc 5/i is on the way)
Only thing with the motherboard is that it doesnt have onboard gigabit, should i install a gig card, or use a differant board?
Im uncertain about what type of hard drives to use. Ive always used WD and have been happy with them, would prefer to stick with them, but if something else would suit the build better, so be it. I was originally planning to buy 3-4 1TB black then in the future add more as needed (the perc 5/i supports this functionality in raid 5) Ive been doing a fair amount of research and it seems that as of recently the wd drives dont let you switch the TLER setting, which can cause the drive to drop out of the array, if its repairing a bad sector, but the raid card thinks its being unresponsive.
Is there a way to increase the amount of time the card waits for the hd?
I currently have 2 1TB green drives that i was thinking of selling, and 4 wd 500gig drives that range from 6 months to 2 years old. The 500gig should be receptive to the tler change, though I havent tried it. As for the greens, I was originally thinking the black drives would be better in a raid then the greens, any suggestions? Also what should I do for a backup solution for all this data?
For a chassis, im really unsure of what to get. I just purchased a 42u Rack off of kijiji, so Id like to take advantage of it. I dont plan on spending more then 200 for the chassis, so a used one may be an option. Hotswappable drive bays would be nice, but probably overkill?
As for the OS, ive read about freenas, and it looks powerfull, though im betting they dont use it in an enterprise environment, so would linux/opensolaris or something else offer the best combination of suitability for the build and learning opportunity?
As always power consumption is also important for a 24/7 machine
Thanks, look forward to hearing your responses!