The convertible Red is a neat idea, it's just that there are limitations to shooting both calibers in the same cylinder that you don't encounter with the dual cylinders of the Blackhawk.
Any commentary about what the Blacks do is irrelevant to discussion of the Red.
The Red requires specific ACP clips that cost about $5 each, through Ruger.
There's another outfit selling them, but I have no experience with those.
The cylinder rear ends are machined completely different between Smith .45s & the Redhawk, Smith clips will not fit.
Auto Rim rims will not fit.
There may be ignition issues with the ACP clips.
You have a long unsupported "freebore" condition where the ACP bullet has to travel before it's captured by the chamber throat.
As an ACP-only revolver, I don't think it makes much sense.
Too heavy, too over-built, and too ammo-sensitive.
As a primary .45 Colt, with the ability to shoot the occasional ACP as backup, it has utility.
Another aspect is that ACP will generally not shoot to the same POA as the Colt loads, unless you match bullet weights & velocities between the two, so you may be changing the sights back & forth.
Not trying to talk you out of the gun, just make an informed decision.
Denis