When I had my Rem 700 classic in .17 Rem, with a decent size scope on it - 4-12 x 44mm objective, I could spot my hits most of the time through the scope.  The .17's are amazing for their size, and what a joy to shoot.  I'm a big fan.

If you go the .17 route, try not to make it too light.  It is nice to see your hits.