I agree. I don't have any problem with Red Sea rig, but, because it seems so much less formal, you wouldn't catch me wearing it so long as other guests were wearing their jackets.
True...Red Sea Rig would need to be the order of the day in terms of dress at a formal event, and purists will say that it, like a white formal jacket, should only be worn "East of Suez", or in tropic climes. However, it might be fun to try it, say on a cruise.

And yes, if I ever do get around to ordering said trews, I will do up a RSR photo, complete with red cummerbund and bow tie.

T.