I think most people like the fact that they do not have to transcode. This is why folks are hoping to see r3d in FCP-X at some point soon (hopefully soon but maybe not until mid next year probably)
Many people are opting for a prorez one light and never looking back.
This is fast but can defeat the purpose. Why?
- Doing a final render from r3d is better.
The problem is that while you might be able to use r3d natively in the workflow, other problems present themselves.
-effect shots for example. you can't keep the r3d container in a online with effects shots, but you can within a prores or DPX container.
When FCP s supports r3d (and I think it has to) then the workflow could be very silky)
Create lightweight media to edit with and then turn on full quality after Picture lock and grade from the r3d before final render to output etc.
I hope there is RED RAY authouring right out of FCP X at some point down the line as well.
(PS: I know a lot of people are going to say you can do this right now out of premiere but I stand by the fact that for me an OFFLINE (rendered red media) ONLINE (relink to r3d in resolve, coor baselight, pablo, etc) workflow is the wise way to go.
I don't feel that r3d was ever meant to be an RT codec and it is not as "smooth" as people using premiere would try to have you believe.