Unfortunately, parking in Davis square plain sucks. There is a pay lot about a block away from Red Bones, though it is routinely full, especially on the weekend evenings.
You can always chance it in a resident space on the side streets, though it's likely to cost you $20 or so in fines.
Another option is to park at Alewife and take the short ride on the T to Davis, and a short walk to Red Bones.
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--phil
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