I'm only mentioning this because of the change above from 100's of thousands to 10-80K database updates.
Are you really talking database updates here, where changed data needs to be saved to disk, or is it more about reading data, web pages served, etc?
I'm not a database expert, but for the kind of load you're talking about, with 10-80,000 database updates per minute, designing and managing your storage is so far beyond the question of which speed drive you should buy that it makes me wonder if (with all respect) you might be in over your head.
Depending on the complexity of the surrounding website that needs to be served, any transactions generated by database changes, etc., you could be talking about an Amazon.com level of data center to handle that kind of load. It's almost certainly beyond the capacity of a single Xserve, and most likely beyond the capacity of even a couple servers with a gob of RAM, dedicated SAN storage, and a well designed database. Probably somewhere between there and a small data center to make it work, and perhaps much more. All of which is waaaaay beyond which speed hard drive to consider in complexity.