HunterMike, Redbones will probably not have any desire to retrieve. It is just not bred into them. They may do it as pups, but as they get older the desire to run by scent will become so strong that they will forget almost everything else.
As to running rabbits, they will probably do a good job, but they will push the rabbit so fast that you may not be able to get a shot. Some individual dogs will run slower than others, so this will be a case by case situation.
Good Luck whatever you decide.