Well definitely not red clothing....but red shoes-yes. Red is pretty neutral so I think you can wear it with just about every color except maybe pink, or any really bright colors. Subdued colors is what you want for clothing. Let the red bag do all the talking!
I beg to differ on the purple. I've worn my red bag w/ a purple dress and red belt. It is a dark purple mind you, but i think lavender would be nice for spring too. Wild colors are all the rage right now. I would even wear it with the right pink, as long as you feel good about it, you can wear it with whatever you want. It always looks fierce with black.
it also depends on the shade of red - i have a true red bag that works with any color, but I have a red jacket with orange undertones that's VERY hard to match. Also, if you're wearing the bag casually, you can wear it with almost any color, except maybe another red.