I'm not sure what you mean by read failures being handled, I guess you are ok with losing the data and have good backups?
After a bad experience early on, I no longer leave any questionable disks in the array. A known bad disk jeopardizes the ability of unraid recovering the data on any other failed disk.
I mean: From http://lime-technology.com/wiki/index.php/Troubleshooting
If your array has been running fine for days/weeks/months/years and suddenly you notice a non-zero value in the error column of the web interface, what does that mean? Should I be worried?
Occasionally unRAID will encounter a READ error (not a WRITE error) on a disk. When this happens, unRAID will read the corresponding sector contents of all the other disks + parity to compute the data it was unable to read from the source. It will then WRITE that data back to the source drive. Without going into the technical details, this allows the source drive to fix the bad sector so next time, a read of that sector will be fine. Although this will be reported as an "error", the error has actually been corrected already. This is one of the best and least understood features of unRAID!
Yes - I have offline offsite backups and I'm not terribly concerned with the data. I use old disks until they are marked dead. My critical data lives elsewhere.
But with the intent of kicking this array down the road another day and not resorting to backups - I can conclude the best course of action with highest probability of success is to rsync the data on the failing full drive to one of the existing empty disks, then drop both the failing full and failing empty drives out of the array.