Just throwing an idea out there about a potential way of shooting an indie feature with Red...
What if you shot your entire movie with very minimal lighting, and let Red's exposure latitude + color grading in post take care of the lighting?
By doing this, the production saves time + money by spending less time on lighting setups. Very minimal color grading could be performed for screening the movie. If it receives distribution, more detailed color grading work can be performed. This defers your costs, which is a good thing if the film doesn't receive substantial distribution (and chances are, would happen most of the time). Shooting this style allows good screenplays/stories to rise to the top and go through with distribution + polishing.
How much would you need to light?
You'd certainly try to take advantage of natural light a lot, and shoot fast before the sun changes too much. Possibly shoot with two cameras, to shoot even faster. Shooting in Hollywood helps too, since they tend to have more days of sunlight there.
Play location lemonade to get locations with good light. A single light (or a few) could be used to add particular lighting effects where needed. Certain lighting 'flaws' could be finessed in post (although this would likely be more expensive than doing it right in the first place). For example, if it was an overcast day, it would be possible to re-light the shot in post to add some modeling and light onto the faces of the talent.
Definitely see the following article to see where I'm coming from (/ stealing this idea from). Dale Launer talks about his experience in indie digital filmmaking.
Where this won't work
The problem with shooting a film this way is that it may be hard to get a big theatrical release. Movies with star power are much easier to market and are profitable. But if you're paying for stars, then you might as well:
(A) Shoot like how Hollywood movies have always been shot, with big production values and lighting and so on and so forth.
(B) Shoot it all in a green screen studio and use virtual sets, like Sin City. Shooting in a studio probably allows you to shoot faster + cheaper than shooting on location with mostly natural light.