I assume we're talking SATA RAID5 here?
Without knowing budgets, space requirements etc I'm going to have to be a bit vague but here goes.
Bus Type:
Any more than a pair of drives will saturate the standard PCI bus so for decent performance you'll need to look at PCI-X or more likely PCIe. You can get PCIe 1x cards but they're only 4 port, if you have a 4x slot (or 16x) you'll be able to go to 8 ports and for an 8x card there are options for 8 to 24 ports but you'll need a free 16x slot.
Hardware or Software?
In this context it's whether the card has specific on board hardware to perform the XOR calculations required for RAID5 parity. Having an onboard XOR engine will greatly improve the write speed of the array but also increases the cost of the card. There is a middle ground available from Highpoint - accelerated software cards where some of the processing is off loaded onto the main CPU and some is done on the card. This is reasonable compromise for storage arrays. For comparison a hardware based card like an Areca 1220 will be capable of writes in excess of 150Mb/s on a big array whereas a Highpoint Rocket Raid 2320 tops out at about 60Mb/s. Both cards will return a fairly similar read rate as there is no processing overhead for reads.
Which to get?
Depends on budget etc but here are some options
RocketRaid 2300: PCIe 1x, 4 port - Decent enough accelerated software card but limited by only being 4 port. Probably about £80-100.
RocketRaid 2320: PCIe 4x, 8 port - Accelerated software again but 8 ports so more capacity. Good reads with an 8 disk array but writes aren't spectacular. I use one of these cards for my storage array. Around £180-200.
Areca 1220: PCIe 8x, 8 port - Serious kit with an appropriate price tag, onboard XOR engine gives very good write speed to go with the good reads an 8 disk array is capable of. Also supports RAID6 for 2 disk failure protection. Expect to pay £300-350.
Areca 1280: PCIe 8x, 24 port - Bragging rights central! Native RAID6, up to 2 Gb of onboard cache etc etc etc. Yours for the bargain price of around £1500.