Roomer,
I agree with Dave. If you have to use RAID5 for space considerations, try to get any logging files on a mirrored LV rather than RAID5. In a real situation, I moved some logging files for an Oracle database from a RAID5 LV to a mirrored LV and noticed definite improvement in performance.
I did some very unscientific tests that consisted of just copying files to various RAID scenarios. The test was copying one large file (more than 1 GB) to RAID5 and RAID1 and copying about 7 GB of thousands of small files to RAID5 and RAID1. For the large file, RAID5 did surprisingly well (within seconds of the RAID1 copy), but I'm not sure if that really equates with what databases do.