I picked up one of the 4-12 banners a year ago, and I have been very pleased with it.
It resides on a slightly custom 10/22 at the moment, and does great for me there.
I got to say, that in general I have been more than happy with all my Bushnell scopes, from my Bausch & Lombs, and the Elites, to most of the Trophys and Banners I have, no trouble.
There is one other scope right now that is a real good deal, that would work great on your 223.
Natchezss.com has the Simmons 44 mag 1048 for $99.95,
http://www.natchezss.com/product.cfm?contentID=productDetail&prodID=SN801048 I have two of these 1048s and they are great for the money at $99.95.
These scopes, and only the 1048, have an 1/8 min click value and target turrets unlike most in this and higher price bracket.
Good luck, and good shooting, with whichever scope you chose. Andy