This thread is over a decade old, so not sure the OP is still reading it. But for the benefit of those that stumble upon the thread, and for our own benefit now, I'll jump in,…
I'm probably in the minority with regards to the No.1, but I feel it should be an iron sight only gun. While there'll be outliers, the design has not historically been thought of as the world's most accurate long-range rifle (certainly not by today's standards), plus in my opinion, a scope just ruins the looks of it as I think of it as more of a safari-looking rifle. Having said that, I think it's better suited to medium to big bore rimmed cartridges at ranges under two hundred yards (ideally less than one hundred yards). I think Ruger answered customer requests and started building them in nearly all cartridges, and optics found their way on them quickly to aid those with aging eyes and it was a "win-win" situation. I own two No.1 but had three in total, and I love taking mine to the range using only iron sights at fifty yards standing. IMO, the 270Win cartridge has long-range potential and ideally suited in a bolt-action rifle, but that's just my opinion. I think the No.1 is great with the 30-30, 35cal cartridges, 416cal, 45-70 and other big bores, as well as rimmed pistol cartridges if the sights are properly regulated. The rifle is short and easy to maneuver and can compete with a lever-action for being a great brush gun. Reloading can be faster than most assume with a cartridge holder on the stock. It's the perfect gun when shots are likely under one hundred yards.