I also have a Ruger 77 22 hornet 20 inch barrel blued with walnut stock.
Mounted a 1960's some Bushnell banner with BDC 3x9 on it . I sighted in at 100 yards and with a turn of the turret I can turn it up to dead on at 400 yards in theory. I have only tried it to 150 yards and it works perfect.
I use one of the following loads, for "light-loading" a .22 Hornet:
1. 7.0 grs. / 50 gr. "High Velocity" type bullet / SR-4759. On this load your rifle should have a 1-in-14" twist,
2. 4.0 grs. / Unique / 40- 45 grain bullet. When using this load, I place a pea size piece of cotton to hold the powder against the primer. This load shoots well in 1-in-14" or 16" twist rates and velocity is around what a .22 LR produces.
There was a article some time ago in handloader mag about down loading the hornet and the 223.

Al