I'm considering using Red5 instead of wowza and Flash Media Interactive Server. But it looks like a new project and it hasn't even reached full v1, so I'm worried about using it in a production environment.
Has anyone used it in a real production environment and would like to share the experience and document it with others?
Version numbers on open source products are always tricky. You can said that Red5 hasn't had a 1.0 release. Or you could say they've had 5 major version releases. From the Wiki; where are five "Final" releases.
With commercial software, there is often a business reason to get to 1.0 [ready or not]; however open source software does not have such pressures. The fact that it is an active project is enough for most people.
For specific examples, I was pretty sure that Ribbit was using Red5 in the backend; but I don't know how you [or I] would verify that.
Red5 is well regarded in the community as the de facto alternative to Flash Media Server. I would download it and test it for your specific use case.