Does red wine have an effect on arthritis?

Possibly... The compound in red wine has been said to have anti-inflammatory properties; formal studies are most likely underway to prove(or disprove) this. Hold off on investing in the local winery yet(unless you just want some red wine to accompany your dinner).
Uncertain. It may dilate blood vessels and have an indirect effect on blood flow. Specific effects of wine, type of wine, etc may have a role in an individual on an individual basis. This may not be a general effect.