I caught this projector at NAB on Wednesday... so after the Monday evening tweaking, but still at 2K per eye and 8 bit color. They were hoping to get it running at 4K/10bit before the end of the show, but never did (I asked Jarred).
Very interesting unit. Hard to do a critical evaluation in a setting like that, but the picture was darn good even in it's current beta state. It could use some more CR and crosstalk elimination, but RED acknowledged both of those are being addressed before we even saw it. The simultaneous L/R display made for a comfortable 3d experience, and I couldn't detect any sequential-color rainbow effect (which I often detect on some DLP sequential setups).
All in all it looks to be quite a piece of gear for the price, and may well set the bar for price/performance.
I also got to play with some of the rest of the RED camera gear I normally lust after. The new OLED based electronc viewfinder they have for their cameras is amazing.
If you have any questions, I'll be happy to try and answer them based on what I saw.