It's the original full height "5ΒΌ" form factor. So yes, it takes up the same space as two A2000 floppy drives. Mine does RAID 0,5, and 6. I'm not certain, but I think the newer firmware supports RAID 1. It transfers to my Amiga at 20Mb/s synchronous, it's the individual drive<>interface speed that changes with the firmware update.
All functions can be handled through the panel. It actually works really well except if for some reason you have errors on all your drives on startup, then the problem is the controller trying to sort out the errors takes priority over the buttons and it can take a long time to do anything. Best then to power all the drives off and wait for the errors to time out. This should never really happen though.
It also has a serial interface to connect to a computer for configuration/administration, requiring MS-DOS. I have never tried it. I guess it never occurs to me these are just the sort of things PC-Task is actually useful for. I haven't found there's anything I can't do through the panel.
Here's a picture of mine:

I'm fortunate enough to have this really nice enclosure. But, frankly these are NOT hard to come by! I actually have another RAID enclosure WITH drives that I got for free and don't use. It's an old IBM server that got junked because the CPU is outdated! I'm sure these should be easy to find.
If I had $150, I'd buy the controller on ePay in a heartbeat and set up a RAID array on one of my other Amigas.