We were able to replace RAID controller and rebuild RAID array on WEB30 server. As of 11:45AM EST server is operational. We have flushed out the .NET assembly cache, as the result ASP.NET based sites may experience initial load delay due to JIT compiler process running in the background. The page load speed will improve over next several hours as bulk of assemblies are JITed and CPU I/O normalizes.
Also, the standby spare server is ready to be pushed in production should further hardware problems continue to occur with this server.
Thank you for your patience and understanding.