I dont think the BSA Sweet 22 scope would work as far as compensating for bullet drop. The bullet weight of a 22mag could be the same as a 22lr, and therefore they would fall towards the earth at the same rate. But since the 22mag travels at a higher velocity, it would cover distance faster than the 22 lr. Thus bullet drop over distance would not be the same for a 22mag vs. a 22lr. For example if we have a 22mag with a velocity of 2000 fps and a 22lr with a velocity of 1500 fps and the bullet in each case has the same weight, then in one second both bullets drop the same distance due to gravity. And in that one second the 22mag bullet travels 500 feet further than the 22lr, so the drop over distance is different.
That being said, I second the Bushnell. They make decent optics at an affordable price.
-matt
In the above post i assumed that the velocity was constant for each round. I know that it is not but I was just trying to illustrate the differences, thanks!