Well, when I ordered MP Sideswipe and Soundwave last year, I decided against getting Red Alert too since I wasn't that big a fan of the character. But after hearing rumours that Takara would only be doing one run of the release, and prices were increasing significantly, I decided to get him just to get another Lamborghini mold!
And am I glad to get him or what!!! :)
The mold is almost identical to that of Sideswipe, with some kool little differences to make him as accurate to the G1 cartoon as possible. Essentially the transformation is the same, but he does have the fake wheels on his shoulders in robot mode as per the cartoon, and also the white pegs at the top of his chest.
As you can see below, the alt mode is damn sexy!!! If they never release a Sunstreaker, at least I'll have this awesome mold in Sideswipe and Red Alert. The paintwork is a little sloppy in places, particularly around the windows, but I guess it's nothing too obvious from a normal viewing distance.
In bot mode, apart from the differences I mentioned before, his head sculpt is also slightly different to Sideswipe's. He also comes with a kool accessory in the sparks that can be attached over his head to reenact his circuits frying from the cartoon :)
Since I ordered him late, I ended up paying about $25 more than I should have if I had just ordered him with Sideswipe and Soundwave. But now that I have him in-hand and next to Sideswipe, I really can't complain too much :)
So if you're on the fence about getting MP-14 Red Alert, definitely don't wait much longer! I'd jump onto Robotkingdom or BBTS or even ebay to try and get the cheapest price right now!!