I don’t work with the RED all too much, I do use it from time to time. One of the new advantages of Media Composer 5 is the ability to import R3D files through AMA and edit them natively.
I loaded up some files on my MacBook Pro (without any other accelerator attached, like the MXO2 mini) and started to edit some pieces. It stuttered here and there, but I put most of the blame on the speed of my computer. I changed the draft quality to “best performance” (all yellow if you read the last blog post) and it seemed to work very well. I think it works better than the H.264 through AMA edit, but more on that another time.