I would put your hamskea rubber shock absorber here....
I have run it here on other bows as well, specifically a mathews that has a ring down by the cam. You have to watch the string at full draw to get an idea of where it moves when slack, but mine always fell away from the bow. The only possible interference I have seen is with your arrows if you put a quiver on and shoot, the cord may get hooked. It happend to me, but it was fixed moving the rubber shock down towards the cam, I had it placed higher and thats when it interfered.
If you haven't purchased the hamskea yet, PM me, I have one for sale in the classifieds, has a mathews bracket on it, but you could just buy the core universal mount and it's still cheaper than a brand new one. I sold the mathews bow and don't need it anymore. It's a bomb proof rest!
I have a redline sight I used for a back up, it's not the torch model, but it's okay. I never used it in the field, mounted it to the back up bow as an emergency option during an international hunt. It was the basic RL-2 dovetail 5 pin model. Pins were bright enough, aluminum built, no micro adjust, but it had 1/2/3 axis. It was cheap for what it was and that's what I needed. I'm trying to sell it now because that hunt is over.
If you are spending $200-400 there a lot of good options for sights I would look too before the Redline stuff. Used spot hogg's and black gold's pop up in the classifieds all the time for 200-300. New stuff from Spott Hogg, Black gold, HHA, axcel can be had for $300-400 ish depending on model. I would go there first before redline, but that's just me. FWIW I shoot black gold now, and have shot Spot Hogg, both are great. I have tested HHA, but never owned and heard good things.