Here are some NLE and compositing software choice for the RED one :
1) With 2 and 4 K : The best is to use NLE that can handle uncompressed 4:4:4 RGB , YUV or both without external codecs. The autodesk inferno , smoke and flame (on linux and irix) are the best for their real time power but the prices are high . IFX Piranha (linux) is cheaper and very effecient . Avid DS nitris is the top level solution for windows but is tightly linked with it's hardware (no way to use a footage without redigitizing it using it's specific hardware) . Autodesk lustre is another windows solution for color correction and grading but has few tools for editing . All these solutions cost from 50 to 400 K . Cineform should come with a new raw codec wich can be used for resolutions exceeding the 2K (patent pending) . Adobe premiere pro or Sony vegas with cineform codec are among the low cost editing solutions for 2K , however care must be taken in the editing steps to avoid detail loss after a certain number of generation effects (about 15) . Other solution may exists but these are the most known . Among all the expensive solutions the linux piranha is the most hardware independant .
2) With HD : The list is big but Canopus edius with it's HQ codec (a variable interactive codec) is one of the fastest and affordable . The software can import easily many footage formats and flavours . While Avid solutions are more expensive and hardware dependant . The avid codecs are not interactive and variable .
3) compositing : After effects with the dynamic link (production studio only) allow many compositing effects from the premiere pro timeline without rendering , wich is the affordable solution for both editing and compositing with cineform codec . Otherwise the expensive 2K/4K can do the job with uncompressed 4:4:4:4 data . If the red codec can be used with the midrange compositing softwares -combustion , shake , digital fusion , nuke, and others- that will be a real revolution .