i need a red bag as well! i have narrowed it to two: the gorgeous garnet leather sophia paula mentioned (check out the fall 2011 preview thread for pics!) or the michael kors e/w red leather hamilton.
IF you need a red bag right now, Michael Kors does do beautiful reds. The Hamilton and the Jane are two good choices.
Oh, yes, I was referring to the Poppy Valentine as not being new. Sorry, I re-read my post and it was unclear the way I wrote it.It is a new bag because it isn't even available for purchase yet. It just isn't a new style.
I personally don't like the poppy Valentine floral highlight.