The drop on the tang will require a pretty good wedge for that short sight and an equally longer screw. The Lyman sight is made for the rifle with screw holes and wedge in the right spots.
I don't find it bulky and as far as modern goes, peep sights have been around for a long time.
I think a peep installed in the rear dovetail would be ok for target work but might have a pretty small field of view???
But hey, it's your rifle.
HA