I have very little interest in FF35 for cinema. None of the best cinema lenses will be usable (gods forbid that I'll have to upgrade my cinema lenses as frequently as my camera systems/sensors!). And for the VAST majority of narative work I do, t4 gives me a really nice, not-in-your-face focus falloff.
What would get me really excited about a new sensor is Dynamic Range! And right after that, sensor sensitivity. ISO of 3200 clean would really open up the world of night. Then fram-rates ( I love 300fps). And a long way after those gold-star improvements woudl come more resolution. I cant see more than 6K aquisition being beneficial for a max 4k world. I'm perfectly happy with 5K. But more DR! More ISO!! Now that would be worth a lot.
Also, I don't expect Red to announce any thing concrete about Dragon at NAB. That will be for 2013.