goldenblade98,
I like the peep sight with a fiberoptic front sight only second to a low power scope. I'm amazed at the accuracy I can achieve and how quick I can get on target with the peep/fiberoptic set up. The finer the fiberoptic the better!
The peep sight is nice too when it comes time for cleaning. You don't have to remove it like you do a scope. It also keeps the weight of the rifle down.
I remember when the Encore first came out and the peep wasn't available yet. We just used the peep off a Contender and ground the underside radius to match that of the Encore's reciever.