I reserve comment until working with the Red, but let me just say one thing about the title of this thread: Red was NEVER "vaporware." Vaporware is a term that means a produc that's been promised and promised and promised but never comes out, and in fact never does come out.
Red met just about every deadline they ever set. They're basically the exact opposite of "vaporware". They announced it early and delivered it about when they said, so it's no more "vaporware" than, say, the XDCAM-EX or HPX3000. Both of those are announced products that haven't come out yet, but they're hardly "vapor". So let's please disassociate Red from the term "vapor" as it's really inappropriate.
Barry, the Red was always viewed by some in a skeptical way, during its planning and pre-production phase. And there were many delays in its development. If I recal correctly, the original shipping schedule was for last year.
Until actual shipping, skepticism was dominant. And it made sense. Panasonic, Sony or Panavision are established brands that had a proven background. But RED was a new hotshot company founded by the Billionaire owner of Oakley Sunglasses. So RED was most of the time associated with Vaporware, over here. It was only when first footage appeared, directed by no other than Peter Jackson, that skepticism started to disappear among the production masses. I personally know some big time producers over here (Hong-Kong) that were convinced by the Peter Jackson footage at NAB (and ordered the camera). Before that, however, you can't deny the skepticism on an unproven company.
And now that it finaly shipped, RED proved people that it is no vaporware. Its here, its working, and its shipping.
So I believe that the skeptical "Vaporware no more" title makes absolute sense- Now is the time when RED enters the World of the active players. And obviously when they announce the Mini Red, or any other camera, their new track record with the Red One provides a warranty of no vaporware.