S500 - single controller, dual power supplies, up to 12 drives.
Yes, a 7200 RPM SATA Drive gets about 40 IOPS/spindle (at a 20ms response time). If you comapre this to 10K SCSI, the SCSI drives get about 85 IOPS/spindle (at a 20ms response time). The value the S500 provides is at the virtualization layer - there is no write penalty like there is with RAID 10 ( a write penalty of 2) or RAID 5 (a write penalty of 4).
Lets suppose I take all 12 drives and put them in a RAID DP raid group, that group in an aggregate, and from that aggregate carve a single volume containing a single LUN. My IO performance would be 400 IOPS.
Now lets suppose I take 12 10 SCSI spindles on DAS and create a RAID 5 array. My write performance is 233 IOPS, and my read performance is 935 IOPS. If I assume a 1:1 read write ratio my mixed performance is 534 IOPS. Of course that number varies depending on the read:write ratio of the application placing the load.
The SATA drives are generally going to provide more space than the SCSI drives, and the SCSI DAS will likely be more expense than an S500. With only 50 users, I'd be confident that the solution would provide adequate performance for home directories or even messaging (exchange up to a couple several IOPS/user which is a very heavy mail profile). It probably wouldn't be ideal for databases with heavy OLAP activity.