Seattle: I think the Pentax scope you listed is the white tails unlimited, right? This is a great scope. Although I am much more impressed with the lightseeker series, but that is more expensive.
Although I have not had hands on experience with the Mueller, that would probably be my last choice. this is because of some of the lukewarm buzz I have heard on the net.
My vote would go for the Sightron SII series of scopes. I have some sightron optics and I feel the SII is the best scope for the money in the200-350 range. The coating quality is excellent, and they are fully multi coated with no less than 7 coats. The windage and elevation system (called, I think, exact track) is reputed to be one of the most stable on the market in any price range. I have not been able to get it to shift. But I just got a new Sightron SII 3-9x42 w/o the adjustable objective. I am putting this scope on one of my 30 cal magnums and I will see how tuff the exact track is. With the 7m 08 I don't think you will have excessive recoil.
But Penatx is also a great choice, and I use some of thier optics too.
let us know what you get
okcmco