ill_noiz, you can use both a red dot and a magnified scope. They can mount on your rifle at the same time. I have a BSA 3-9X42 illuminated reticule and the 20mm red dot. They work very well together. All you do is lift your head a little and you go from the scope to the red dot. Takes all of about 10 rounds to figure out.
You will buy a couple of optics for your gun before you figure it out. You can use the extras on the next rifle.
Here is a couple pictures of my 15-22
And
Buzz.