I've used the 'big brother' of this board, with an AMD E-350, for a NAS. It easily handles 10 SATA disks, with plenty of room for expansion, and that board only has 4 SATA ports.
The trick: get the board, get a BIG case, with loooooads of 5.25" bays in the front, get a couple of those 5x3.5"-to-3x5.25" bays (in which you can put 5x 3.5" drives on their sides, and take up just 3x 5.25" slots), and.. the magic wand: a 'port multiplier'. Newer SATA chipsets allow you to have a port multiplier. One cable from the motherboard to the PMP (as it's also referred to), and from there you can usually connect 5 more drives.
You will also want to use software raid, especially when you will use something like FreeNAS. If you use a hardware RAID, and that breaks, you either need to get the -exact- same family of RAID card back or you won't be able to get to the data. If you use software RAID, you just hook up your drives to the new mobo or whatever, and you're back in business. Performance of software RAID is generally at least as good as hardware RAID, especially since the 'home use' hardware RAID isn't exactly truly hardware RAID... They still make the CPU do all the work, so there's no gain, really.
If you worry that the 5 drives will fill up the single link to your mobo, I wouldn't worry too much. Usually, you will end up with performances of up to 50-100MB/s. Theoretical maximum for the single SATA link is 3Gbit/s, which makes 375MB/s. Sure, drives can burst pretty high, but steady throughput is generally quite a bit lower. So, with 5 disks you'll fill it up, but you won't overrun it by much.
And finally: linux support for PMPs is a bit iffy, so I'd suggest going with FreeNAS, which has MUCH better support for it. OpenFiler is linux based, so that'd be a nono. Not sure how windows handles it, but I honestly do not see any reason why you'd want to run FreeNAS in a VM on a windows host. And finally, remember that if you build any serious fileserver, your power consumption won't be in the mobo, but in the disks. Make sure your drives can go to sleep, by preventing silly programs to wake them up all the time.
Besides the NAS, I've used the same board for an OpenELEC build. Set me back about 200 euros for that one, and can handle anything I throw at it.