I bought this Celestron Ultima 65 18-55X scope, paid just over $100.00 delivered. It was a good deal at the time.
It did not come with the scope cover, scope stand, or lense covers. However I am really impressed with the clarity and brightness at the lower settings. It worked fine all the way out to 600 yards.
As for seeing bullet holes at 300 yards, it all depends on the atmospherics at your range. I shoot every month at a 100 yard reduced Highpower match. I typically shoot a M1a or a Garand, just for the heck of it. The range I shoot has such bad mirage that starting in June, through the summer, I cannot clearly see what is going on during my 20 round slow fire prone. I can see the group but cannot see the individual shots to determine what is going on in the ten/nine ring.
At 200 yards we put white backers behind the targets and you can see the white for bullet holes in the black. You do not necessarily see the white when your bullet hole is out of the black.
I have seen 308 bullets holes at Camp Perry at 300 yards, but that range has a lot of wind blowing the mirage away and it is exceptionally clear compared to the ranges around here. Still, it is rare that I can see a 308 round in paper at 300 yards, and I have looked through a lot of different spotting scopes.
I believe you should be able to see 223 and 308 holes at 200 yards with a good scope, assuming the image is not washed out by mirage.
I was able to buy a Celestron Ultima 100 (a 100 mm front lense) on at Champion Shooters on Commercial Row at Camp Perry for a very good price and I am going to see how it does at distance. I was reading names and numbers on the mail boxes up the street, so I am optimistic for the future use of this scope. Champion Shooters honored their $100.00 off coupon for the 100 mm scope
http://www.championshooters.com/store/pages.php?pageid=7