I have grown a great deal of red clover over the years. It is much easier to get a stand than with alfalfa (especially if the soils are a little acid). For a number of years I ran a rotation of corn, oats, clover. I no-tilled the corn in the clover sod. It is easy to kill and very good for the soil. It can also be plowed down as a green manure crop.
Another advantage is that you can harvest your own seed. I take it standing on the second cutting. . . hot dry weather generally will make the best seed crop. I have had it go as high as 3 bushels per acre of #1 seed. Probably average over the years 2 bushels....I have also harvested seed in the fall of the year seeded. . . 1.5 bu per acre.
I find it makes better hay with orchard grass or timothy in the mix. . .3 to 4 pounds of grass seed per acre....The clover hay has a tendancy to absorb moisture, so , the grass will help big bales shed water....also, it will help hold up the clover for harvest....and, adds to the tonage. I prefer timothy (like Grandpa used to do). . .it matures closer to the time first cutting clover does and it is easier to kill out if you want to no-till into the sod.
Since, I have had a lot of seed over the years. Another use I found was in renovating pastures....easy to get a stand and by the time it dies out your grass is established, plus it adds a lot of nitrogen to help grass get going....Makes an excellent cover crop for crown vetch or birdsfoot trefoil as well, really seems to help them get started - use 1/2 rate clover seed and full rate vetch or trefoil.
I am in Southern Iowa on rolling ground. . .and use it on soils marginally suited for row crop and/or hill ground with shallow lower producing soils.
Best of luck