Steven Caesare
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Look Redcode Raw is amazing but it really isn't raw. It is compressed, information is thrown away. I'd rather use it than raw actually because of the data rate but it seems a little disingenuous to go on about how great raw is when that's not what the cameras record.
I don't think RED has ever attempted to misrepreset what REDCode is: compressed RAW.
In the context of this thread, the virtues of REDCode (as opposed to other "RAW" formats), is that it is truly UNPROCESSED as far as the image transforms typically applied to images: gamma, color space, etc...
Now, if you want to share concerns about the compression, other such threads have been started, and I'm sure you could resurrect one of them and continue.
And if anything, the previous addition of REDCode34 and the current "Color Science" initiative demonstrates that RED takes all such concerns about image quality quite serious, no matter where they may lie.
-Steve