I definitely think a compact scope on a Ruger #1 used for "all-around" hunting is the way to go.

When I first got my #1, I tried a standard Leupold 2x7, but it offered more magnification than needed and was weighty. So I switched to a compact 1.75x5, and it's been great. My #1 is a "S" model in 300 H&H mag.