Also take a look at Holosun. You'd have to stretch that budget by about $40 to get into the 503 series (circle-dot), but they're easily worth it. I have a few 503C's that I like, but I'd not buy them again. I'd rather just have the 503GU (no solar regulation, exterior battery turret that's easy to change battery, and shielded turret caps. Also has auto on/off motion sensor, unlike the C series).
The 503C is kind of joke. The "C" denotes Solar "regulated" (no, it will NOT run on solar power alone, it REQUIRES a functioning battery. The "solar" mode simply modulates brightness based on ambient light). It doesn't really extend the battery life much, and you have to manually turn on/off the unit. It's a great RDS, but IMHO, the 503GU is the way to go (simpler, easy battery changed, no need to turn on/off, etc).