I did buy the Red Leader X-Wing and, frankly, it's a disappointment. The X-Wing is fine, I guess, but it pales in comparison to the Luke Skywalker X-Wing. I think the one thing that irks me most is that it has a hole for an R2 unit, but doesn't come with one -- not that I have a shortage of R2 units, but it would've been nice to get Red Leader's R2 to fill that hole.
That second figure would've been especially nice considering the quality of the Red Leader figure. This, friends, is some very shoddy work -- definitely a step backwards in quality for the Star Wars line. The body is just the POTJ Luke Skywalker Pilot body, right down to the hands -- they're not too weird, but posed to look like he's pushing some controls. The head, though, is inexcusable. One, the helmet is molded on, and doesn't have any visor. Two, his head is way too small -- put him next to the other pilot figures from POTJ or Saga lines and he looks ridiculous. If I had to guess, I'd say that the head is from a POTF2 Luke Skywalker pilot. Mine's currently packed away, so I can't check, but I wouldn't be surprised.
What makes him Red Leader? Well, the paint job on the helmet, I guess. I'll go back and watch ANH, but I'm pretty sure that Red Leader was not a tiny-headed, yellow-skinned gentleman.