By far this is the best known, and most used alternative supplement for cholesterol issues.

Historically red yeast rice has been used for centuries in China for cardiovascular problems.

When the first statin appeared in US...Mevacor by Merck, there was a huge push to remove competitive products like red yeast rice so that Mevacor would have a clear path medically.
This was similar to what happened with l-tryptophan.
The company who made a very high quality product Cholestin, was forced by the courts to change its product and remove red yeast rice. This is the new product:
http://www.pharmanex.com/corp/produc...holestin.shtml

However, interest in red yeast rice did not wane. And today it is back (like l-tryptophan as well).

I've been reading about red yeast rice for years. No one single reference gives all the details about it.
So far I see 3 major things one should be aware of in choosing to try red yeast rice:

1) Where does this red yeast rice come from? Most comes from China but there are companies here in US who make it too. Given the problems lately with China and adulteration, choosing a US produced form may be safer. Two that I know use US product are the NOW company, and Doctor's Best.
They openly state this. I am not going to research all of the suppliers out there, so if you decide to use red yeast rice, I'd strongly suggest you contact the company you intend to use yourself.

2) Not all suppliers have a standarized amount of red yeast rice in them. They all vary.
Consumerlab tested some, and found:
http://www.consumerlab.com/reviews/R...ed_Yeast_Rice/

http://uk.reuters.com/article/health...97022820080709

http://www.liebertonline.com/doi/abs...ournalCode=acm