Thanks Matt,
Your right they can't be used at the same time, the X Serve RAID Responds to the Simple Signaling protocol from the serial cables, the one that comes directly out of the UPS is a smart signaling one (which will work as well). So in short yea I'd use the serial cable if your more concerned about the storage.
If you want to do both you'll need the Network management card to signal the server over ethernet. (see it listed below)
A Small write up about an APC UPS setup.
The most common setup of the APC UPS (that I've been involved with) are the Smart series with the UPS Network Management Card
http://www.apc.com/resource/include/techspec_index.cfm?base_sku=AP9617 which is basically an ethernet port for UPS's such as the 3000 series, this allows you to configure it to a time server and make a list of ip addresses to signal durring the case of a power outage to turn off the computers, for the RAIDs they use a serial expansion 1U rackmount box called the share-UPS
http://www.apc.com/resource/include/techspec_index.cfm?base_sku=AP9207 the one serial cable from the UPS plugs into this and it expands the amount of serial ports you have to a couple of advanced ports (smart signaling) and abot 6 or 7 simple ports, this is the way to go for clearing the cache for multiple RAIDs, just in this configuration with the expansion box you should be carefull as to which Serial cables your using APC has several part numbers just for serial cables, so be sure to order the right ones.
Shane Sokolosky
SAN Product Manager
ProMax Systems inc.
16 Technology Dr. Ste.106
Irvine, CA. 92618
Office (949) 727-3977 x108
Toll free (877) 776-6292
Fax (949) 727-7002
Website-
http://www.Promax.com
shane.sokolosky@promax.com