Yes, the card is supported in both.  Accept the configuration from the drives when it asks the question at startup. Regards,  
Hi, We have a 2950 with a Perc 5i installed.  (And 3.5" bays).  We need to access a 2.5" Perc created raid disk.  We have 1950, with 2.5" bays.   Is it possible to move the Perc card from the 2950 to the 1950? The configuraiton lists (the card in the 2950 as):
Moving PERC 5i controller from Dell 2950 to Dell 1950