Ok I guessed that the performance would suck, but I tested it anyways.
I used 10 computers all donating 10GB of space
Turns out that, yes you can Raid together network drives(It is now one 100GB drive).
It is somewhat slow and if any of the 10 computers powerdown, you cant access anything(to be expected).
Something I didn't expect did happed though, I installed some games on this drive and they ran much better than I would have guessed. Do you think this is because it is taping into the GPU of all 10 computers?
All and all not worth doing unless you can find some use for it, next test will be installing an OS on it =]