I agree you cannot blindly use RAID5 without considering the sizing, but what do you consider an acceptable recovery time?
My cheap MD RAID5 with three 500 GB SATA drives allows me to have 1TB and approximately 100 MB/s per drive throughput, which implies a full scan to re-add a replacement drive might take 2 hours or so (reading all 500 GB from 2 drives and writing 500 GB to the third at 75% of full speed). I have never been in a position where this I/O time was worrisome as far as a double fault hazard. Having a commodity box running degraded for several days until replacement parts are delivered is a more common consumer-level concern, which has not changed with drive sizes.