The Baldur is a more balanced cable than the Red Dawn, but not as fast and transparent. The more lean of the two is the Red Dawn. For some reason, these two cables didn't match well with one another. At least, this was what I experienced when I had the Baldur ICs with the Red Dawn ICs in my system.
Things took a dramatic turn for the good when I changed the IC at the source with Stereovox BAL-600 interconnects. So I was using the BAL-600 at the source, the Baldur from preamp to amp and the Red Dawn speaker cable. This strange mix surprisingly produced a much more transparent and balanced sound than using all Baldur ICs with the Red Dawn SCs.
Two independent dealers highly recommended the Baldur to me. They both said that it is the best value for the money in the Norse series. They pointed out that their specs are closer to the Tyr specs than any other cable in the Norse series.
I never had a chance to compare the Baldur and the Tyr side by side, but I've listened to systems using all Baldur cables and all Tyr cables. I don't remember the Baldur being veiled, but I don't think it is as transparent as the Tyr or the Red Dawn.
I can't say how my system sounds with all Baldur cables since I decided to go for the Stereovox Reference series for my entire system. I still keep some Baldur ICs and the Red Dawn SC as a backup though, even though I'm not using them.
I personally don't think that the Baldur is a better cable than the Red Dawn. If your system can reproduce the lowest octaves, I would suggest to go for the Red Dawns. This is assuming that your system is not lean, in which case you can perhaps look into the Baldur.