Stephen,
If you plan on using Red's Legacy workflow only(Dragoncolor/Redgamma) then no. If however you plan on using Red's latest IPP2 Workflow, you absolutely need to no what going on before you even think about doing anything else. The IPP2 workflow is not just a Redcine-X thing it's something that can screw you a thousands different ways from Sunday if you screw it up in any NLE/ Post Production software.