I said it isn't there, yet, and it's not. Who do you know who has shot a feature on Red? Also, Red does interpolated 4K. It's maximum native resolution is 2K. Assuming it remains true to it's specifications.
Red is very good on track, so I expect them to deliver the first cameras in autumn 2007. To me that is as near as anything can be. And it's native resolution is 4520 X 2540 pixels, according to their specs.
Have a look at the frame grabs
http://red.com/images/gallery-still/4k_3.jpg
http://red.com/images/gallery-still/4k_1.jpg
Although they didn't use any kind of sharpening, the images already look great. Fire up Photoshop and do an unsharp mask with 400/0.8/2 and have fun with the result.
I especially love the virtually grain free image which allows me to go wild in postproduction.
216M pixels would be much lower resolution than an 8x10 Kodachrome positive. I pull 16M pixels from a 35mm slide which is about 1/60 of an 8x10. Also, you haven't addressed exposure lattitude.
I have worked for that company some years ago, developing the UltraScan 5000. This is a highend scanner with a native resolution of 5080 dpi. I did scan hundreds of 8x10 positives and I can assure you, that with 2540 dpi you already get to see a lot of film grain. It gives you a theoretical 400 megapixel, but with a lot of noise. And as it is a positive film it is easier to break the highlights.
The 216 megapixels of the digital camera on the other hand are again virtually noisefree, giving it better definition. No problem to upscale that to 400 megapixel when needed - you won't notice, granted.
Afaik it has a wide latitude near the positive film range, but not as good as negative film.
I would say, if you do carefully select your 8x10 stock, lenses, f-stops and so on you can get really a lot out of film - no doubt. But there is no need to glorify it. Both technologies will find their market and none will get obsolete soon.
The 216 megapixel camera is used for aerial photos and there it saves a significant amount of time and money compared to the old way. If you prefer to shot landscapes on film, then just do it - I will not complain. Since I got my digital camera my Canon AE-1 rests somewhere in my room.