Well, Mark, the deposit is fully refundable so I don't get why you get so irritated by the RED thing.
What we know so far is that ppl that have seen the Peter Jackson's 16 minute film projected in 4K are very impressed (and I guess a 4K projection IS the place to perceive compression artifacts) and that the filmed footage just took 500 GB and that the posproduction wrokflow was fairly easy.
Dunno, man, I see pretty solid foundations to be excited.