Joseph Perkinson, It is possible, and in almost all respects the recommended configuration. The reason being is it allows you to separate the OS from the data. This adds a level of stability, as well as protects the data from any issues that can arise from the OS. It does have a slight performance decrease from a straight Raid 10, but it is negligible. With the office size you described, it wouldn't even be noticeable.  That is correct, they are called VDs for Virtual Disks.  Let me know if this helps answer your questions, or if you have any other. 
Starting my small medical office with an onsite server (PE320) with H710 PERC for anticipated RAID 1 and RAID 10 arrays.  The content of my questions exposes my ignorance.  I am using the Life Cycle Controller app to try to configure stuff.  I had thought to put MS Server 2012 on the RAID 1 array and plop all of my other apps (MySQL based in the main one) on the RAID 10 side of things.  Can this be done?  Is it even wise?  Or would you just take all 6 2.5" 15K 300 GB drives and put them into a RAID 10 array.  It's a small office, with just 4-5 clients.  Doubt performance issues will be big, and plan on back-up in other ways.  Oh, and is it correct to refer to the individual arrays (1 and 10) as VDs?  Just looking for some light...   Dr. P
Multiple RAID arrays, same box