Red's Jim Jannard has told fans in the RedUser forums to "Wipe your minds of the past announced Scarlet. Forget the design and forget the price. It is all different now. We think you will be surprised." In his words, "the market has changed and we have discovered a lot of things in the process. We have a new vision." So it is not as though the Scarlet cam has been scrapped—what we are talking about here is a ground up redesign that should be a positive thing for consumers. That having been said, the RED EPIC is going to receive a similar treatment as well. What they are planning at this point is unclear, however threads in the RedUser forum confirm this much: the names will remain the same, new specs and working models should be available by the 2009 NAB show with a release to follow soon thereafter, and RED is aiming to fulfill initial orders before the fall of 2009. Jannard also noted that "the prices will be very near our target" with regard to Scarlet, so we could be in for an even better camera at a price point similar to the $3000 quoted initially. [RedUser and RedUser Redesign via Boing Boing Gadgets]
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Just don't tell me they've partnered with Kodak or Polaroid in some kind of branding nightmare.