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I wouldn't bother raising this hand here, it's not very versatile and you're throwing out a red flag and probably wont get any action if you flop your set. I feel that much more experienced players here will disagree with me though.

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I doubt anyone would disagree with you here. Red is fairly deep stacked, out of position, with a very weak naked AAxx hand. If I recall correctly, several top posters here would muck this hand pre flop OOP. At a minimum, the accepted wisdom appears to be, "don't raise with this unless you can get most (like 75%) of your stack in" which is virtually impossible in this example.