I remember evaluating this with dropbox when I was after a backup solution. Ubuntu one was the same price for 10GB as dropbox was for 50. Since I had well over 10 in photos, I didn't go any further in research. Seems ubuntuone has the same price for the 50 GB plan now, but now I'm a very happy dropbox user.
To bad. I might still evaluate them again next year when my dropbox expires, but with all my stuff already in there, it might be hard.
While I see your point about price, we should remember that RAID is not a backup. There are numerous spectacular ways in which you can lose your data with RAID of any level.