First, some friendly advice ... if it is hot-swap, swap it hot.  Never power down to replace a disk, unless absolutely necessary.  The drives are accessible from the outside of the system for exactly that reason.  (Even cabled SAS/SATA disks can be hot-swapped - they are just harder to get to.) If you are able to boot to the OS still (after having powered down to replace the failed drive), then, depending on your OS, you can install OMSA, and start/monitor the rebuild from the OS.  If you must do this from the CTRL-R utility, then you need to assign the new disk as a Hot-Spare, which will then start rebuilding the drive automatically.   SAS drives will usually be less than 1-2 minutes per GB (and as little as 10 minutes for as 73GB disk).
I have a PE2950 iii with a RAID 1 array connected to the integrated PERC 5/i controller. This array is the boot drive for the server. It consisted of two 73GB SAS drives. One failed and I purchased a 300GB SAS drive as the replacement (I ready that a larger drive can be used although you cannot use that addtional space). I shut the server down and replaced the failed drive. I booted and the new drive is detected but I need to rebuild the array. I booted into the RAID controller BIOS but I am unsure of what to do from there. While I have the data backed up, I don't relish the thought of having to reinstall the OS and apps. What steps do I need to do to bring the new drive into that RAID 1 array? Also, what is the approximate time I can expect to rebuild? Thanks!
Replacing RAID 1 drive