IMO the old Berkley Frenzy lipless crank is a better bait than the Red eye shad or the Rippin Rap.  Actually I've no experience with the Rippin rap but I own a couple of the Red Eye Shads.   I'd fish them if I happened to be out of Frenzy baits or my second choice is the Cordell Spot.

I'm going with the rippin rap because for some reason its the only lipless crankbait I have success with. I'v tried fishing red eye shads a few times and a few different colors because I heard their good lipless cranks. I'v also seen my fishing buddies catch fish on them too but for some reason I have better luck with the rippin rap whenever I'm lipless cranking. Their both good lipless cranks although I feel that the red eye shads are kind of overrated. I do like some of the colors the red eye shads come in plus the tungston 2 tap but If I had to pick one I'd go with Rapalas rippin rap 

Red eye shad, hands down.