I've been a DIT on a few RED projects. A few music videos, a corporate video, and a feature.
On the feature, I backed up the footage to two drives on-set, checked for technical errors and things like filter reflections, etc. I also made TIFFs of every set up. I didn't do any one-lights or creation of LUTs. We had some camera problems, so I fixed whatever I could fix and arranged for backup bodies when we had to send our camera in. Thankfully the DP knew a lot about the RED.
On a music video and the corporate video I did the same thing (except for creating TIFFs), though I did a one-light in RedCine, since we were going to be grading from ProRes files.