I was looking at WHS2011 and saw some videos on it. Does this OS support storage pool? From the video I saw it does not. I want to load 5TB and use it as one big chunk of data.

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EX490
CPU E6550
8TB HDD's
2GB RAM

Not native like WHS v1. You could create a RAID Array or span multiple drives to make one large drive but there are pluses and minus to each. One option you can look at is Stablebit Drive Pool and Drive Bender which create Storage Pools in WHS2011 but both are still in beta and not recommended for production machines. I have not played with Drive Bender but have played with Stablebit Drive Pool and I really like Stablebit Drive Pool and found it to be more user friendly and flexible that the DE in WHSv1. If your just testing the waters with WHS2011 and not using it as your primary server then by all means go ahead and test out Stablebit Drive Pool or Drive Bender to see how they work out for you.

Raid is abit more complicated and more expensive to properly impliment. Drives designed specifically for RAID are not cheap. While some use consumer drives in a RAID Array its not really advisable because at some point in time the drives will just drop out of the array. Also there is Software Raid which does not have the best performance and Hardware Raid where you get the best performance but you also get the nice price tag for a good Hardware Raid Controller.

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Exploring the possibilities!

Migrated from WHS2011 to WS2012E: HIGHLANDER

~ Norco 4220 Enclosure
~ Gigabyte GA-990FXA-UD5
~ AMD Phenom II X4 995 3.2 GHz
~ 8 GB Corsair Vengeance DDR3 1600 (PC3 12800)
~ 3 Supermicro AOC-SASLP-MV8