We recommend using multiple drives to get good throughput and not sharing the same drives used for Kafka data with application logs or other OS filesystem activity to ensure good latency. As of 0.8 you can either RAID these drives together into a single volume or format and mount each drive as its own directory. Since Kafka has replication the redundancy provided by RAID can also be provided at the application level. This choice has several tradeoffs.
If you configure multiple data directories partitions will be assigned round-robin to data directories. Each partition will be entirely in one of the data directories. If data is not well balanced among partitions this can lead to load imbalance between disks.
RAID can potentially do better at balancing load between disks (although it doesn't always seem to) because it balances load at a lower level. The primary downside of RAID is that it is usually a big performance hit for write throughput and reduces the available disk space.
Another potential benefit of RAID is the ability to tolerate disk failures. However our experience has been that rebuilding the RAID array is so I/O intensive that it effectively disables the server, so this does not provide much real availability improvement.