Okay, I've just been doing a bit more research into this, I stand corrected though, as there was some problems with XP and hard drive sizes above 137gig.
I'm pretty sure it has something to do with 48 bit LBA support. I think the patch everyone is talking about which was released for XP, was a patch for 48 bit LBA support. However an explanation of why say for example my 240GIG RAID partition was detected and formatted without any trouble (without the need for a patch or SP1) could be because technically my 240GIG partition is made up of two 120GIG drives, and therefore doesn't require the 48 bit LBA patch to support larger drives. Which in turn might stop XP having any problems with my partition.
So essentially what I think the problem is, is that with single hard drives above 137GIG you need the support patch installed under XP so it can detect the drive properly. So, the problem lies with Windows XPs support for the 48 bit LBA, (which is an attribute that drives above 137GIG have) and not actually partitions above 137GIG. Which is why I can view and format my 240GIG RAID 0 partition (which is made up of two 120GIG drives) without the patch.
Is that a bit more informative?