Each has their advantages.
Hardware RAID has the advantage that all of the processing and the suchlike is done by dedicated hardware in between the pc and the hdds. The downside is that it suffers slightly on the "Redundancy" aspect. If, at some point in the future, after the hardware has been discontinued, and you can't get ahold of the controller anymore, your controller dies, then that can mean the end of your RAID array altogether!
On the other hand, I'm assuming, given that you are putting this on the iMac forum, that it'll be RAID 0, and so security is less of an issue, it's more about spped. In which case, yes, go hardware all the way!