Rebuilding a drive in raid

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Hi Guy’s, I’m new to this, so I apologise if i’m posting this in the wrong area, my problem is this, i’m running a server, SBS 2003, everything was working fine until one of the drives failed, I’m only using onboard Raid software, I replaced the new drive and it came up with the message that “Port 1 is in rebuilding State” and then a warning: Array(s) in Degraded Mode!!!.
Do you know how long it takes to rebuild the drive (WD Raptor ATA 74gig)? and was there something I needed to do to the drive first.
Any help would be grateful,

Cheers,
Macbachster