Western Digital gives you hard drive tools that will copy all of your information from one drive to another.
(recommended technique) As long as you have the power requirements and extra ports to support 4 SATA devices, you could create a new Raid 1 array with your new drives and use the WD tool to backup from one raid set to the other.
Another technique (not recommended), install only one 160gb and one 300gb. Backup from the 160 to the 300, then remove your 160, install your second 300gb and install a software RAID 1 over the two 300gb disks (Windows XP Pro / Windows 2000 Pro can do this).
There are a few other methods, but i'm still wondering... Why are you are using RAID 1? Most people would like to have 600gb of useable space as opposed to a 300gb RAID 1 mirrored set.