Its kind of hard to be picky when they sent something after the warranty. Lessons from a cat...it never hurts to ask. See if they would be willing to send you one that is faster. (7200 RPM with 8 meg cache) You have not only slower 5400 but a quarter of the ram cache (2 megs) It will stream but probably not with as much polyphony. If not, it will make a great data backup drive. Perhaps put it in a firewire enclosure and use it to backup & transfer large amounts of data.
Anyway, it should work, just not as well as a faster one. If they turn you down, give it a try and see how it works.