Bright red, looks orange
Thanks for the pictures. I believe the red on this car is Scuderia Red (red with a little orange), which is the true color on the Ferrari F1 car. F1 team uses this color because they say it is brighter and therefore stands out more on TV. It is on option on the standard 360 cars (about $4500 US) but it is a standard color on the 360 CS.
Oh, I think the official name for this color palette is "Rosso Scuderia". Spyderman is right, it is the official F1 color.
It is an awesome color with the stripe. I thought the F1 cars changed from Ferrari red to Marlboro red as part of the sponsor deal. The TV image was the excuse (though it is true). Shouldn't matter, just look for the cars up front!