| It's not the hard drive speed that's the bottleneck in your situation -- it's the slower network you're using. 802.11g isn't capable of much more than about 2 or 3MB per second transfer rates on average. Using 802.11g with either the Time Capsule or some other router with an external hard drive attached is going to be slow.
I would look into upgrading to 802.11n before I looked at changing out hardware only to find out you're getting identical speeds.
Besides, the "server grade hard drive" is probably just more robust and durable than a standard drive, not faster (after all, it's meant to run 24/7). We'll have to see what kind of hard drive is in the Time Capsule, but I would suspect it's a standard 3.5" SATA II hard drive -- which you could NEVER hope to max out with data transfer over any existing wireless network.
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