Don
Yes that RAID5 is generally a bad idea at larger drive sizes, due to the time taken to rebuild, or the risk of trying to back the data up when a drive has failed (due to the increase I/O).Am I missing something here in terms of assessment of price to performance and considerations for redundancy, different number of disks, usage, etc?
Personally I'd either be looking at a 5 bay and running it in RAID6, or 5 bay with a 3 disk RAID5 and a 2 disk RAID1.
Either that or buy a cheaper 2 bay NAS and run it in RAID1 for irreplacable data, and a separate 4 bay NAS in RAID5 for your less important media etc to maximise capacity.
Another option could be to look at an Unraid DIY nas build, which gives RAID5 levels of data recovery i.e. via a parity volume, but will less of the complexity and risk