The plan would be to mount it as far back on the barrel as possible, might have it drilled and tapped into the breech plug if it fits. Doing that it should be similar to what I'm used to.
The answer to the question of why use a peep instead of regular fiber optic sights is with a peep you do not focus on the peep itself, only the front sight and target. I have good eyesight but suffer from 40+ year old eyes in that they do do not adjust from close up to far away very well so peep sights work well for me anyway. This article explains it in much better detail:
http://www.outdoorlife.com/blogs/gun...ng-peep-sights