Yep. I use it because it's the only pretty word I know of in English to talk about blood. "Bloody" is not so poetic xD
But then you have the word "sanguine" meaning optimistic, dunno how to explain that one!
Edit: I found that it's because of medieval age medical theories saying that a "ruddy disposition" signified a person of good cheer. I s'pose it makes one think about people's faces turning red when drinking a bit too :-)