Is the RED camara going to be purely a Camera, or a Camcorder?

Not much has been mentioned on the data recording front, which is funny because it is probably the most important part of the camera! You can have a fantastic camera which will sample beautiful images, but if the recording system's a bit clunky and massive then serious problems are going to occur outside of a studio based environment.

RED Flash - is there any new information on this? What resolutions is this planned to work up to? 4K would be lovely, but not if you had to swap out a cartridge every 2 seconds. Will the recorder be in/on - camera, or carried by a data recordist teathered behind? I wouldn't complain at all if 4K images required a 2 person camera crew, but not at 720p.

Thoughts, ideas, confusion?