Craig - it depends on what you are interested in looking at. Admittedly, with a smaller scope you are going to see less, but you can still see plenty if you know what you are looking for. My first scope is that size, but I've moved on to bigger!
As a suggestion, try the Eta Carina nebula. There are also a number of clusters you might consider. Have a look at the "Jewel Box" near the Southern Cross and Pelaides is always worth checking out. You might like to have a gander at the Small and Large Magellanic Clouds. What I did early on was just move across the Milky Way and stop when I found something interesting, then tried to work out what it was I was looking at from the star charts and Stellarium.
Others will give you better advice - I'm just a novice...
|