I was in the same boat when I was trying to decide what glass to mount on my Ruger Mark III. I went with a cheap BSA red-dot. I will give you the pros and cons. First, the red dot is very fast and the sight picture easy to acquire. Being on the relatively cheap side, the dot does blur a bit, and it took me shooting a few groups to find true POI. That said, I have been able to turn out quite a few sub 2 inch groups at 25 yards, often around one inch. Much tighter at closer range. All this with cheap Wal-Mart ammo (Federal). The regulation tuurets are the same as as a scope, and precise. (windage and elevation at the side and top)
I have often thought that I could get tighter groups with a scope, given its greater magnification, and clarity. a variable gives you the option of close-in speed, and longer-range precision. However, I will most likely leave the red dot on, since I can shoot as well (for me) as I can with a rimfire handgun with this set-up. The only problem for me has been eye-relief for a scope. I often have to search for the target or game animal at arm's length before finding it.
Keep in mind, though that a suitable holster may be a problem. Either of your choices sounds like a better quality scope than mine, and I think that you will like either. The Red-Dot offers speed and some more shooting for precision, the scope offers possibly more precise shots, especially at longer ranges.
Again, with optics, you usually get what you pay for, and I went cheap to see what I'd like. and, by the way, after about two years, I'm still on the same set of batteries with the red-dot.
Good luck, and let us know what you decide.