IMO:
Red Light Pros:
-Emits Visible Light
-Doesn't have a chemical smell when initially heated up
-Doesn't require a special housing
-Initial cost is cheaper
-Easier to obtain
CHE Pros:
-Does Not Emit Visible Light (more heat efficient)
-Higher durability (operational time/impact resistance)
-Heat is directed towards one direction
-Can be used effectively with both dimming and pulse proportional thermostats