Thanks for the comments, guys. Just for the record, I have and have used scoped sighted and peep sighted deer rifles for 63 yrs. I'm turning 76 next month. Yes, you need to be able to see the front sight clearly against the target when using a peep sight. BTW, the comparisons were done with the inserts of the rear sight removed, ala ghost ring style.
What I'm looking to use is a rifle that I can get on a moving target quickly, in bright sunlight between 25 and 200 yds. In close second place, is something I can carry all day with ease. It also needs to able to make a 300 shot on a standing target.
I've got and have used four other rifles. All of them wear scopes. So, what I'm trying to do is find the combination that give me the best chance to hit a running buck as he dodges through the Ironwood Washes. I know from experience I'll have very little time to get on him and shoot. The faster I can do this, the better my chance to tag him.
The rifle needs to be of medium weight, say 8 lbs. or a little more, it needs to settle down quickly, a longer 24 inch, even a 26 inch barrel helps this, and it needs to allow a quick follow up shot. So, at present, it's this peep sighted M70. But more testing is in order. That means running it against the other rifles I've used. E
FWIW if you have the right aiming mark a peep can allow you to achieve quite good accuracy. I shot a lot of ISU smallbore and fullbore for a number of years, and if you aren't achieving 1 moa or better from prone unsupported in those games you aren't in contention. Even with a post foresight an accurate rifle should do well, and I've shot many thousands of rounds in service and competition, as well as hunting, with rifles fitted with a peep and post combination, as well as shooting smallbore and fullbore with a ring foresight.
However, for hunting, there are a few things which come into play. Your match rifle at the range typically has the peep stopped down as much as you can get away with for the ambient light (depending on the class of competition), to give better depth of field and sharpen up the focus on the foresight, and you don't have that with a ghost ring because it cuts down on the light reaching your eye and may also slow you down so, like you, I remove the insert for hunting. You also usually don't have a nice bold and well-defined aiming mark when shooting at game. Nor of course can you do things like use a ring foresight element sized to suit the aiming mark.
I often do use a peep sight for hunting even so. They are compact and can be very simple and rugged. They are also my preference in the rain, where a scope can become obscured. However, I'd give the edge in speed and low light and in fact in most conditions other than rain to a scope. I have shot any number of running animals - rabbits to buffalo, deer included - using scopes. As long as the rifle's properly set up with the scope, such that the reticle simply appears in front of your eye as the rifle comes to your shoulder, and has enough FOV, it will work perfectly. I'd go with a 4x or a variable with a low end somewhere between about 1 1/2 and 3x. FWIW I've even shot trap and flying birds with a scope on 1.5x mounted on a combination and on a driling (using the shotgun barrels of course).
Better still, have such a scope in hand-detachable mounts, with a compact peep or even a good bold set of open sights (large square notch rear, well away from your eye, and post front), so you can slip the scope off if you take a fall or if the rain starts, and use the irons. I have several rifles set up like that.