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If you are looking for high performance, no overheads and faster rebuilds, you can go with hardware RAID. The only cons for hardware raid is it is costly and vendor lock in, but if you are using it in production basis, it is worth it.
Software RAID are for low cost solutions, home and small business users and open source which is free. Performance and overheads of the software RAID will depend upon usage of the system. Better specification of the computer using network storage solution will ease performance and overheads in software RAID.
Depends entirely on your needs.
If budget is limited hit Software - else go for hardware.
