The Midland Red buses stopped running years ago, I don't know of a bus service to Earlswood, to be honest I don't think there is one. The piece of land that you mention Fred is now a car park for the Red Lion
The wife and I used to pop our to the Red lion regularly when it was privately owned and you could get a great no frills meal that was decently sized portions and a reasonable price.
After a few months of not calling in there we went one week and found it had been purchased by the Vintage Inns chain, we took a look at the menu and prices had a drink and left. I've just looked at an online menu and I see that they have modified their menu and prices, perhaps other people got the same idea as we did.
After saying all that I remember it as an old spit and sawdust pub where all you could get to eat was a ploughman's lunch