I wouldn't go with Red just yet. Their latest update caused a ton of crashes on set. Remember that with all new cutting-edge technology, there exists problems. I'm sure they'll have everything ironed out eventually.
Another thing to think about is PAPER vs. REAL LIFE. The RED camera looks great on paper... but is it tried and true? Yes, the technology behind it is fantastic! But, trust me... if you're shooting a feature on a limited budget, go with what you know and with what's been proven. If you blow your entire load on the camera, what do you have left for good lenses and, MOST IMPORTANTLY, good set design? Shoot in a plain white room with a DVX100A and a RED camera... they'll both look like crap. Have an outrageously awesome camera with a mediocre-at-best piece of glass and you end up with crap. I'd rather have great set design and a great lens with an OK camera than a great camera, no lens and poor set design. But hey, if you can afford to have it all... go for it.
My advice to you is RENT an HD200 or an HPX2000 (no, not HVX200) and get some nice glass for it. Your results will be pleasing and you won't have spent all your budget on the camera. If you simply RENT it, you won't be left with buyer's remorse. Or maybe you'll decide you like it. Either way, its a try before you buy scenario.
If you are indeed adamant about purchasing a camera, I highly suggest you do NOT purchase the RED camera. WAIT! Instead, consider a Panasonic HPX500, JVC HD200, or something similar. These both give you great quality and allow for plenty of attachments and accessories... and they WORK!!

I've used them both and I'm fairly pleased. HPX500 is a 2/3" sensor BTW