Omaha,
My experience might be of some interest to you.
A friend and I decided that we wanted something light and handy for hunting whitetails in the Adirondacks of NY and the woods of NH.
We opted for the ruger. We got them in .308 caliber for the versatility of the ammunition available. My friend has a bad experience jumping a hugh whitetail at about 20 feet. At the time he was carrying a Remington 700 7mm magnum with a 3-9 variable scope. When he jumped this buck, and thew the rifle to his shoulder, all he could see when looking through the scope was hair, and no reference to the vital zone. Based on this experience we decided to opt out of a scope and go to a ghost ring setup.
Now the Ruger compact is just 35" over all in length, but it does not come with any iron sights. After much agonizing, we opted for the XS (Ashley)ghost ring set up. We sent both guns to Ashley, where they mounted their front sight for us, and drilled the receiver with one hole to mount their ghost ring sight.
Now this rig with sling weighs 7 lbs. Now everyone on this forum knows that I am a "scout rifle" disciple. By definition a scout rifle should not exceed seven pounds. Adding a scope with rings and bases would add another pound to the weight of the rifle, take it out of the "scout" class.
I also had a Timney trigger installed in mine. On the trigger pull scale mine breaks at 2lbs 3 oz. Light but safe on my rifle. I would have been happy at 3lbs.
At the range I got 2" 3 shot groups with the ghost ring and post front sight. Good enough field accuracy to 300 meters. Load: 165 gr nosler, 42 grains of 3031, mixed cases, and CCH primers.
I don't know what the velocity loss is with the 16.5" barrel, but the Company has stated somewhere, that they lost about 100 fps in all calibers from their 20" barrels. I'm guessing, but I think I am getting about 2,500 fps with my load. Plenty good enough.