Several of the Old Guys have various low cost reflex red dots on their pistols. Three of them have failed and been sent back for warantee repair. My suggestion is save a little more and buy a quality sight first time. For target work you are going to want as small a dot size as possible. As Zane says the 5 moa dot is just too large for target work. Get a sight that has adjustment for intensity (brightness) of the dot. The Ultra Dot/Match Dot seems to have a big following and a lot going for it. It will be my next purchase of a red dot when that happens. The red dots are great for those of us with old eyes and really enhance the shooting experience for us Old Guys.
http://www.ultradotusa.com/