I'm seeing in general drives with more cache are being recommended for NAS boxes. I've decided to splurge the extra for a 7200 RPM drive.
It seems to me, that disk speed (including cache) is a non issue. The 1 Gbps network interface is very much slower than any hard disk, and that will be the limiting factor for speed. It doesn't matter how many clients you use, the limit is still 1 Gbps. All that happens, is that each client slows down since they need to wait their turn for network access. I suppose that a second (third etc.) NIC might speed things up, if you configured the network properly.
FWIW, I built my own NAS box, using an old Asus A8N-SLI motherboard, in an old case (it has a 1 Gbps NVIDIA NIC that works great with the Multimac NVIDIA driver). It is running eCS 2.1 for an OS, with SAMBA, RSYNC, WEB/2, Peter Moylan's FTP server and weasel mail server (including IMAP), and PMVNC for remote control. The most expensive part was a 1 TB Seagate disk to add to what the original system had. The main "problem" is that it is physically pretty big, but that could be solved by using one of those small box computers. In my case, I don't care.
There is no magic in a NAS box. I can use my setup with windows (XP and 7, specifically), and Linux, as well as with eCS (it should work with any system that uses standard TCP/IP software). Linux gets a bit complicated because of the, so called, "security" features, but it can be made to work.
I could, if I wanted to, add a second 1 TB disk drive, then use RSYNC to sync the two. Not quite a RAID setup, but almost as good, for what I would need.