If it was solely for targets I'd go for 223, for cheap ammo price, low recoil, cheap reloading, less noise.
Failing that probably 308 being my next choice.
I was looking at many of the cheaper brands of scope out there but I couldn't bring myself to buy one.
Look around for different options, I found SWFA had a big selection of scopes to consider.
You should be able to find a Burris or a Nikon scope in the same price range but for a much nicer scope, and a more reputable make, the Nikon Monarch and Buckmaster scopes are high thought of and come in different zoom ranges and reticle options.
Thats what I'd be looking at.