If you’re going to blow away the whole D drive and reconfigure the array, I’d shut down and disable all Exchange services and anything else that touched the D drive and then do a full file system backup. That way, all of the Exchange files (databases, etc.) are simple files and will be captured. After you rebuild the array, just do a full restore of the D drive and you “should” be good to go. You shouldn’t have to do anything special with Exchange at that point–just re-enable the services and reboot the server.
I think this approach will be infinitely easier than getting into the Exchange database restores–unless you want practice with that (not a bad idea from a disaster recovery standpoint).
Hope this helps.