My daughter just got this Savage Cub for her 5th birthday. I stripped and stained it "Cherry Blossom Pink", and my wife did the hand painted daisies and vines. The scope is a Simmons 22MAG 4x32.
I faced the same decision as you, and here is why I chose the Cub:
1. Bullet feed ramp
2. Traditional toggle safety
3. Auto-cocking on bullet extraction
4. "Accu-Trigger" 2.5 pound pull + safety feature
5. Integrated rimfire dove-tail scope mount
BTW... I talked a friend into getting the Rossi for his son, and I was disappointed. The factory sights are PLASTIC, and they don't hold at all. He ended up having a gunsmith replace them. If you are going to scope the .22 barrel, then it would probably be fine. ALSO... the weight and pull length are too great for a 4-year-old. The Cricket is the best in that category, and my Wal-Mart has them for $99.
The Savage Cub comes with a peep sight - unique among its peers. Cub = $165.