Let me say this...using a non-hotswap vs. a hot-swap isn't an issue. RAIDs are configured on the Controller and are rebuilt through it. BUT...as far as what you mention about rebuild reliability?...well, I have helped a couple EE posters that had an issue with their RAID. A disk failed on their RAID5, they replaced the drive and assumed (and rightfully so) that the RAID would be back up and their datastore and/or ESX/i OS will be back to running as before. The problem is...that didn't happen. So, that being said, what I recommend doing, since you're going to use ESXi, is to run the hypervisor on a USB stick. Here is an article that will provide instructions on that. Also, that provides separation....from the "OS" (hypervisor) and storage (datastore).
http://www.vladan.fr/how-to-install-esxi-40-on-usb-memory-key/But, the easiest way to do so is plug in your USB stick and disconnect all other disks during the install. The install will then install on the only 'drive' shown...the USB stick. And then you're done. Reconnect your disks, create your RAID (if not done already), then add the storage (datastore).
Hope that helps.
Regards,
~coolsport00