Openfiler> FreeNAS IMHO - quite like it, use it at work.
I haven't heard good things about Atom as a filer CPU, due to the overheads required to shift files around Gb LAN - Atom boards don't tend to come with usefully powerful TCPoffload engines on board so it all goes on that poor wee CPU which really isn't optimised for that kind of workload unless its parallelilelelelellised - a few companys are making four-card Atom servers for cheap VM platforms, but that's different - they have full sever class Gb NICs that support teaming, fibrechannel adapters, etc. They are, shall we say, somewhat less compromised.
As for SATA, if it has a PCI socket, then a four socket SATA card can be picked up, and softRAID it in FreeNAS/OpenFiler/CentOS. If you really need speed though, you'll want a hardware powered RAID adapter and a Core2Duo [or at least a Core2 Celeron] with 4Gb of RAM for lots of RAM caching goodness....