[Moved to Hardware forum.]
I can see where the 2nd build is going, yet the some choices are questionable. E.g. the motherboard is a server-class one, not workstation, optimized for 1U racks, with on-board video, shortage of PCIe slots, etc. Not a great choice for video editing. There are other things yet in general I like the 1st build better.
Highly recommend checking out Videoguys' DIY 10 build.
Read Harm's articles on disk setup, raids, balanced systems and much more here: Tweakers Page
Your first link is the beginning of a better system than the second link, but only the beginning. You need more memory, a different SSD and at least three additional disks and even then it will be slow for RED material.
I suggest you get a X79 board that can handle Xeon chips. The Asus WS series and the Asrock Extreme 9 are 2 examples. At some point you will likely want a Xeon E5 12Core V2 chip with that media. Red is one of the codecs that the 12 Core Xeons really make a big difference with. You can start with a 4930K now and get the Xeon later since there is a huge difference in red performance between them. The 780GTX card would be fine while the Titan card ideal with the extra ram space. If you can afford the Titan then I would suggest that. If your workflow keeps the Red media in Red's Codec then a simple raid 0 of the black HDD's can handle it. If you have to take it out of Red then you are really looking at 2x SSD drives in raid 0. I would plan on 2x Crucial M500 960GB drives at some point. For right now 2x 2TB WD Black drives will get the job done. You just may have to change the workflow some depending on the applications you use.