I did exactly what you have mentioned with my stainless M70 in .375 H&H. It is set up with a Leupold VX-6 2x-12x with illuminated reticle in Luepold QRW rings. Comes off in about 10 seconds for use with open sights if desired. I have a Leupold VX-3 1.5x-5x set up in a second set of the same rings. It is small and light so it's easy to put in carry on luggage and also haul around in the field wherever we go. Great peace of mind to have a spare all dialed in and ready to go when you're a long way from home. Even the best scopes break...
I've also worked up loads with 300gr Nosler Accubonds and 300gr Woodleigh solids that shoot same point of impact at 100 yards. If I was hunting big stuff like buff I would probably use something like an A-Frame for the soft. African Wildcat to Zebra, you have it covered.
The only drawback, although I don't really think of it that way, is I had to throttle up the solid and reduce the load on the Accubond to get the same POI. The Accubond is running right at 2400 fps and the solid at 2525 fps.
Anyway, makes for about as versatile a package as I can think of. Except for maybe a Model 70 in .416 Rem Mag set up the same way. I've been looking for a good one of those in stainless steel for a looong time
. The idea of a red dot sight as the second optic seems like a very good one to me as well.