Your settings are fine in general. It's not strictly necessary to use your delivery color profile as the working space, but it usually doesn't hurt things too much.
It's been a little while since I've worked with r3d files, so I could be off on this, but I think you'll want to at least check the r3d raw settings in AE by going to the interpret footage panel and using the more options button.
I also seem to recall that the r3d options determine the footage input color profile and that interpreting the footage in AE is double dipping, in which case Preserve RGB would be preferred. I'm not very sure on this last point though.