gjw............................I happen to know just a little bit about the more compact Ruger rifles and know how to scope them based on certain hunting requirements. You didn`t mention the cartridge you`re using, but it really won`t matter anyway.
For your need, the 2x7 Leupy Ultralite is a good choice. Whether or not your Ruger`s barrel is matte or blued, I`m not too keen on rifle scopes with a high gloss black finish. I prefer the matte black scopes. But that is a personal preference.
For running shots on deer at 100 yards or standing shots at 200 yards or even more, IMO, a little better scope for your rifle, would be the 1-4x20 VX11 and for less cost.
First!... You`ll have a little more eye relief than the 2x7. That may not matter too much if you`re shooting a 243, a 7mm/08 or something with lighter recoil. However, the Ruger Ultralites are chambered in the 270 and `06 which do have more recoil.
Secondly!... Out to 200 yards as you mention and I`ll take that a step further and say, even out to 300-400 yards for deer sized animals and larger, a 4x magnification is very adequate. On any hunt where shots are taken within a 400 yard distance (deer sized and larger), there won`t be anything you can do with a 7x, that you can`t do with a 4x. Remember, the more you magnify a target, the more the scope wobble. Some if not most hunters including myself, seldom if at all go beyond 5x for hunting shots even out to 500 yards on deer sized game. So a 4x on the high end, will more than cover your hunting distance needs.
Thirdly!...The 1-4x20 VX11 will have a wider FOV on the lowest power setting. The wider the FOV you have, the quicker you`ll be able to acquire a moving target at the shorter ranges. A split second delay can and will make a difference as to whether or not you bag something.
Fourth!...As I believe the 2x7 already has the capability of doing, the 1-4x20 also has the capability for very fast both eyes open acquiring and aiming, certainly needed imo for your type or style of hunting and for running targets. I believe the 1x4 to be even quicker in that dept than the 2x7.
Fifth!...The 1x4 has a lower profile, which imo, looks just a little better on an Ultralite or compact as opposed to the larger belled scopes. Not a big deal with this one up to a 32 or 36mm obj.....Again, a personal preference.
Sixth!...The 2x7`s extra diameter of 8mm for the objective diameter, won`t make that much difference in the dept of lower lite capability between these two.
Sitting on my 16.5" tubed 300 WSM Ruger Frontier shorty compact, aka "mighty mouse" (my `lil nick name for it), is the 9 oz 1.5-5x20 VX111. I`m running 24"- 26" tubed 30-06 AI ballistics, so despite its shorter or abbreviated size, it is no short range rifle and yet, a 1.5x5 is all I need for deer/elk even out to 500 yards. And on the flip side, it`s a great and fast scope for the brush at moving or at stationary hogs/deer at the shorter to medium ranges..........I like my cake while eatin it too!....
For your needs, either the 1x4 VX11 or the 1.5x5 VX111 would be excellent, outstanding choices. You`ll have great short/moderate range fast acquiring speed and longer range precision capability too if you ever need it. And like the 2x7 Ultralite, either one will keep your rifle light weight.