i have found that it depends on whether your controller card is real raid or fake raid.
i have rebuilt raid 5 in the past with rocketraid (dedicated memory and card onboard) a raid 5 with users being able to continue doing work normally. the priority of the rebuild is set to high and this is on high end xeon processors with much memory (if it makes any difference).
i have also rebuilt raid 5 through the intel matrix raid (using the ich chipset etc for the sata connection) and have had no real issues either serving out the files. this was a vanilla supermicro type server for basic office (20 users or less) but with xeon cpu's and much ram.
i have always done raid rebuilds (raid 1, raid 5 raid6 and raid10) first thing in the morning, inline hot swap and started the rebuild right away. i only have 1 day a week dedeicated to each client, typically, so i have to do it when i am there and do it right away. i would monitor it while i was there, never any complaints. maybe just lucky but i normally do a raid rebuild from a failed drive at least 5 times a year with the amount of clients i have gained in the past 7 years.