What no, dynamic disks are horrible and not at all like what WHS does
WHS has a service that rebalances files between the drives and spreads them between the available disks when you copy to the volume, if you copy a 1gb file to the volume then it will be put in its entirity on one of the volumes, if its mirrored it will create a full copy on another volume, each disk has its own ntfs file system and should you have an issue you can plug any of the drives into a PC and retrive those files directly with relative ease, it uses basic/simple volumes and not dynamic so is compatible with standard disk recovery/undelete tools. When you add a disk it will automatically move some of the content over, when you remove it takes the content and spreads it amoung the other drives (will tell you if theres not enough before you go ahead)
Dynamic disks is completely different, one file system. If you spread it across drives in an extention method then the individual drives are no good. Most recovery tools cannot handle dynamic
The setup described by kyle is very risky, failure on one drive would result in a lot of lost data and guess what, you cannot remove an individual drive from the volume. The way you would do it with dynamic disks is to move the data out, shrink the volume till it no longer extends to the last drive, then reformat the last drive as extra storage space and move more content off, shrink again etc. Very long and laborious. If you have 4 disks and need to remove the 2nd one because its reporting SMART errors then you have a long task ahead
Id honestly advise against dynamic disks unless you are doing software mirroring and hardware mirroring is not an option, considering even basic boards come with hardware raid nowadays it would be a rare case
btw, im running W7 RC on my pc and have an HP EX470 next to my desk