I just read this from a NY DP on cml-indie, thought it very well put about a format perspective frequently forgotten, plus a useful view on what RED offers:
In the world of films for whom the cost of 35mm is prohibitive, I would argue that a production that spends 50,000 on production design, locations, lighting etc and shoots on HD is a better looking movie and more valuable overall than the same movie that spends that money instead on film.