I shoot with a kisser button and NO peep at all. With consistant form and anchor point, you don't need a peep...which in my opinion can become a problem in low light situations. I have shot this way for the last 6 years...since I got my last bow and the pro shop guy talked me into trying it. Not every arrow is in the "X" ring, but I think putting 5 inside a 3 inch circle will be good enough to handle things.
Good luck with whatever you decide.