"Swing of Memories" is optimal for both strategies, because removing "Red-Eyes B. Dragon" from the field would void the effect of "Swing of Memories", which would otherwise destroy your monster at the end of the turn.
Even if there are hardly any cards in your hand after getting out "Red-Eyes B. Dragon", "Serial Spell" can be Chained and send the 1 or 2 remaining cards in your hand to deal out 4800 in one turn.
If your opponent has 1700 LP or less, use "Elemental HERO Prisma" to reveal "B. Skull Dragon", sending "Red-Eyes" to copy its name. Then "Inferno Fire Blast" can be used for 1700 direct damage, thus winning the duel.
Use this card with a monster that was Summoned with "Red-Eyes Fusion", as that card will treat that monster as the original "Red-Eyes B. Dragon". Any of the applicable targets, "B. Skull Dragon", "Meteor B. Dragon", "Archfiend Black Skull Dragon" and "Meteor Black Comet Dragon", have more ATK than the original "Red-Eyes", allowing yourself to inflict more damage.
If there are three copies of this card in your hand after Fusion Summoning with "Red-Eyes Fusion", use them to deal effect damage, that can range from 9600 (if "B. Skull Dragon" or "Archfiend Black Skull Dragon" is Summoned) to 10500 (if "Meteor B. Dragon" is Summoned). This leads to an OTK most of the time.
If "Meteor Black Comet Dragon" is Summoned, an OTK (or even an FTK) can be achieved after using its effect and sending any Level 7 or higher "Red-Eyes" monster (since the ones with lower Level don't have enough ATK for the OTK), and then using two copies of this card.