It's your Model 20, so you're obviously free to do what you want to with it, but if it were mine, I'd leave it alone. For many, many years, my main centerfire hunting rifle was a M-1903 Springfield convereted into a sporting rifle in 1927. Receiver mounted apreture sights like the Lyman on my old Springfield are "period correct" for the era in which the Model 20 was made.
They aren't really stocked for scope use, anyhow, so getting a good cheek weld to the stock when using a scope would be an issue, I would think.
Besides, they're such delightfully light rifles -feel to be around 6 pounds for those few that I've handled- and so trim and svelte in form, that adding a scope would seem to change the charecter of the arm in the ame way that adding a scope to an old M-94 Winchester does.
I'd really, really, really like to find a Model 20 with a Lyman peep on it in .250-3000, and that is on my "buy it now list" whenever I attend a gun show. Others seek the .300 Savage version. We're out there, and your rifle would have value to us as is if it is well sorted and in reasonably good condition.
JP