In this report you state for RAID 10 Analysis :"For example, for reads we will utilize only half the disks in the array since the other half are just mirrored copies." But in the overall analysis you list Raid 10 as on of the BEST for Random reads. I assume this is since you can read from both disks in a mirrored pair. Is this assumption correct? For Sequential reads does it keep the reads local to a single disk in a mirror?

Yes, you have less processor overhead along with reading from both disks in the mirror. Depending on how many mirrors you have in the logical volume, the read activity is spread evenly across the volume, sequential or random. Hope that helps.