Sorry if this has been addressed already.
With the RAW workflow, you will be doing most of your color correcting long before editing in your NLE, right? Kind of the opposite of working in most digital formats, where you would save the CCing for last, to lessen the burden on your NLE during editing. Working with RAW DLSR shots, the first thing you do is color correct.
If you are shooting in the field and you want to watch dailies, basically you have to convert the footage using RedCine into something watchable, like an AVI or Quicktime intermediate, right? So you might as well apply a color-corrected look and adjust exposure that point, so you have an idea about the look. Is that right? Would "LUTs" come into play at some point? I've never used them and don't know much about them.
Before importing the REDCODE RAW footage into a format suited for your NLE, you will have to color correct, adjust exposure, etc, just as you would before viewing a JPEG from a RAW DLSR photo, is that right?
Are most people going to keep their original RAW footage, in case they want to change the color temp or something later? Because once you process your RAW footage into Quicktime or an AVI, the color temp and exposure are "burned in" just like a DLSR RAW photo saved as a JPEG, PSD, etc, right?
edit: oops, i just saw a new, similar post. after reading that one, one thing I wonder about is how the image is CC'd going out to an HD monitor on set?