It depends on what you want to do with your rifle, but I like your original idea of the 4x scope. I think the best bang for the buck would be on the used market, but new I like the weaver rimfire 4x, I think they around $160. I've had one on my 10/22 for years, I find it just as nice as the leupold rimfire scope I have. I've got an older 2-7 Leupold if you're interested, works great just a little rough around the edges, you won't have to worry about it coming unglued on you.
I can't comment on the red dot, never used one.
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