Does it have better performance & is it easier to setup?
That is all dependent on how comfortable you are with software / hardware raid.
Even for software RAID experts, hardware RAID is easier.
well yeah - it's practically plug and play - so few options.
Plus, in hardware RAID (assuming the chassis supports it) you get hot swap, something you don't get with Software RAID.
All enterprise software RAID has hot swap and always has. Only FakeRAID doesn't offer that and even that sometimes does. Hot swap is basically ubiquitous. Even ridiculous Windows software RAID has hot swap.
excuse me, I used the wrong term - I meant Blind swap - the lack of need to tell the OS to demount the drive before you pull it from the system.