There are many types of RAID, by far the most popular on here is RAID0
In Layman's terms: If you have two WD Caviar Black HDD's in RAID0, each with a write speed of 125MB/sec then if you go to write a, let's say 500MB the RAID controller will split the file into two and write 250MB to each drive at the same time. This will take 2 seconds as each drive will be writing 250MB at 125MB/sec.
The only issue with RAID0 is that if one drive fails you lose everything with no possibility of recovery. As there would be two drives, your chances would be doubled of complete data loss.
I have two WD VelociRaptors in RAID0 which are 10,000RPM compared to your 7,200RPM Caviar. They are still not as fast as a single SSD. There was a very noticeable difference when I went from 7,200RPM drive to two Raptors in RAID0. So I can only imagine how much better a jump from a single 7,200RPM to an SSD would be.