I'm working on a dual core laptop PC with 3GB of Ram and CS4.

Just reading about the Red plug-in (haven't gotten a chance to play with it yet) is it possible to set the project to 512, and then set the 4k footage to 1/16 resolution in the R3d source settings.

Worth trying with my laptops specs? Or is Cineform my only real hope on this computer?

Also, I have limited access to a Mac Pro with Premiere CS3 and Final Cut. Doing the entire edit on that would be my last resort as it would prolong the editing significantly with how little I can use it, but would that be any help in part of the workflow?