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Originally Posted by dynamotv
shooting and editing in 4K could be beneficial. For instance you have way more freedom to zoom and crop in post if you need to. You can also gain up a scene that is too dark with no noise. Also I think the color space is different with the Red format (4:2:2?) where you can do some serious color grading.
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Sorry to be such a debbie-downer but you should know that there is currently no non-linear editing platform in existence that allows you to edit in anything higher than 1080p, and even those systems - such as the Avid Nitrous - have just entered into common usage on big-budget shows.
Color-grading systems such as the Da Vinci Resolve and the Nucoda Film Master are $100K+ digital intermediate tools, and only the most high-end configurations are capapble of a real-time workflow in a 4K environment sans proxy.
(Back to the storage requirements for a moment... A full length feature film can average about 120,000 frames. A 4K .DPX file is approximately 24MB. (120,000 frames x 24MB) / 1GB = 2.8TB of drive space for a locked cut. At even a slim 1:3 shooting ratio, that's almost TEN TERABYTES for one movie.)
Of course, some day we'll get dumbed-down versions of these technologies, but you can always expect the companies that develop them will limit their accessability for the benefit of special interests within the film industry. That's how things have always been 'round these parts.
Don't get me wrong, I'm all for the RED camera, but I'd also like to see my fellow filmmakers approach it with all the facts in hand. The bottom line is that the camera, for all intents and purposes, doesn't even exist yet. Sure Peter Jackson shot a short film with it, but not with the same model we're going to get.
The bottom line: Until RED is on the market, the price is set, and people are out in the field shooting with it, we're all still just speculating.