The Red is an incredible camera- but not in the budget for most videographers- especially those "interested in getting in to it". I shoot with a Panasonic HPX170 and up until about a month ago shot an HVX200. BOth of which are incredible cameras and are fastly becoming industry standard for action sports vids. The SOny EX1 is a super sick cam, as well- pretty sure that's what Wakeplace uses. In my opinion the EX1 will give you a sharper image, but you cant beat the coloring of Panasonic cams- and thats why most still prefer it.
Head over to DVXUSER.COM and there you will find more information than you'll ever need on all of the above cams and you can decide for yourself which format is best for you.