Thanks, Tracey, for your comments. Right now I know 2 things about it. It's pretty. It's not fragrant. For me, 'Red Charm' is close to the perfect peony.
1. Beautiful flower with lots of flowers on the clump. 2. Forms a lush, full clump that is pretty after bloom season. 3. It is hardy and healthy. 4. Very pleasing fragrance. Regarding this seedling, I will know if this one flower holds its color this season. I will be separating it from the clump this fall; then next year, it may not even bloom. So it will be a long time before I will know what kind of a clump will develop. I am quite certain it will never approach the quality of 'Red Charm'!
But then, how many registered cultivars can do that!