This is a cool idea for a werewolf movie. I'm surprised it hasn't been utilized before. It begins with the story of "Little Red Riding Hood", with Hood witnessing the death of her grandmother by a werewolf. However, before the old woman is slain she manages to stab the beast with a silver blade, a blade that will be passed on by her grand daughter through the generations.
In the present day, Virginia Sullivan (Felicia Day of DOLLHOUSE), who is a member of the FBI, brings her FBI fiancee, Nathan (Kavan Smith of EUREKA), home to meet the family. She has never done this before and wants to tell her lover about what her family does. When she tells him he's skeptical and walks out into the nearby woods, which isn't a great idea. He is attacked by a werewolf named Gabriel (Stephen McHattie, who is looking more and more like Lance Henriksen). Nathan is bitten but the wound heals before Virginia and her brothers find him, so they don't think he's a werewolf at first. The main crux of the story is how Gabriel is trying to teach the local pack of werewolves that they can transform anytime, not just during the full moon. And also that the hunters have to destroy Gabriel in order for Nathan to revert back to fully human. Unless, of course, Nathan feeds, in which case he'll stay cursed...
On one hand RED is vaguely like BUFFY THE VAMPIRE SLAYER, though it has more of the serious tone of SUPERNATURAL. While the CGI werewolves are a far cry from UNDERWORLD, they are leaps better than the lycanthropes on SANCTUARY. I also thought it was interesting that these werewolves perish like vampires. When they are stabbed in the heart with silver they burst into flame. Recommended.