@Shades: "cheap" is relative
Comparing the specs of the Epic-M with the Sony F-950 (the last camera I worked with), I'd say the Red gear is definitely cheap. In a previous life (seems like aeons ago now), I was building accessories for Sony, Thomson GV, etc that cost more than the Red chassis.
The cost of the lenses, mounts, storage etc are the same no matter what kit you buy, so "good enough" is right.
For the sake of full disclosure, my boss at that time is now with Red, and the accessories have been integrated into the Red product line.