In a message from his New Zealand base director Peter Jackson congratulated RED on their introduction of a revolutionary camera product and heralded the end of the use of film as a medium. He also went on to support the use of 4K (you could argue that RED isn't 4K as it's uses a Bayered sensor) and compared it to the use of 70mm film in movies like Doctor Zhivago. His point was that Directors should have an optimum resolution for 'epic' movies.
Perhaps of more interest Mr Jackson goes on to mention that when he was shooting The Lovely Bones movie he used to take his own RED camera out in the morning to shoot his own background plates. More enabling from digital cinematography.
See his beautifully shot message HERE