Sometimes when you have just a small amount of knowledge about some thing you can "think Out of the box". So here it is. I don't like tube peeps because the tube breaks. What if you ran a thin wire from the tube peep to a very small spring loaded reel attached to the riser. When you pulled back,the pre set wire would come off the reel to line your peep(adjustable screw)when you release, the wire would be reeled in (like a tape measure) The whole thing could be smaller then a quarter. If need be you could replace the peep without bothering the "reel", could replace the reel with out bothering the peep.

That is a nice thought there Aligator but how would you mount it to the riser. With the new bows it maybe easier to do to center the peep up. But on the older bows I think it would be harder to do because all the cables are in the center of riser. For myself not a great fan of tube peeps due to the fact when it breaks it always smacks you in the face. I think a thin cord would be a little nicer as it maybe quieter. Just a thought on the idea.