Nickster,
The Mark II competition is a very accurate gun. You may want to check out a thread called "Ruger Mark II" --- the last posting was Aug 2. Many seem to like the the 22/45 better, but I find that I shoot better with the competition model. The gun comes with 1" rings, which you can return to the factory for 30 mm rings for a $5 handling fee. I mounted a cheap Tasco propoint red dot site on it, and hand-held groups of three inches are common at 25 yards.
The downsides are: 1) the gun is very heavy 2) cleaning it is royal pain 3) the magazine release is at the bottom of the grip.
have fun.