The big announcement was that you can record visually loseless 4k on a small drive. Archiving your 4k digital cinema negative can be done without "refrigerator drives". Pretty incredible in our book.
I think Jim should license the RED Code so we can burn HD onto normal DVDS or even - sorry - DV Tape or DVD-rs for cheep archive. You might get some Chinese DVD makers to sell a RED DVD player in China and make billions bypassing both HD-DVD and Blu-Ray with cheep $50 RED DVD players that play RED DVDs. I wont mention what the RED LIGHT DISTRICT might offer with an affordable RED DVD player and or a RED codec download to PCs and MACS - goodbye mp3, wm9 and mpeg2, mpeg 4!!! The real money is in the codec break through!
Just an idea, but China needs their own HD DVD and a cheep archive on RED DV tape would be great or RED DVD-rs.