Below are a handful of mappings and a function I use to run various incantations of RSpec from within Vim.

noremap <Leader>rs :call RunSpec('spec', '-fp')<CR>
noremap <Leader>rd :call RunSpec(expand('%:h'), '-fd')<CR>
noremap <Leader>rf :call RunSpec(expand('%'), '-fd')<CR>
noremap <Leader>rl :call RunSpec(expand('%'), '-fd -l ' . line('.'))<CR>

function! RunSpec(spec_path, spec_opts)
  let speccish = match(@%, '_spec.rb$') != -1
  if speccish
    exec '!bundle exec rspec ' . a:spec_opts . ' ' . a:spec_path
  else
    echo '<< WARNING >> RunSpec() can only be called from inside spec files!'
  endif
endfunction

When a spec file is open in the current buffer I can do the following:

Mapping Description
\rl Run the example the includes the current line, e.g., rspec spec/models/foo_spec.rb ~l N. (If the current line is an it block, only that example is run. If the current line is a describe block, all examples within the context are run — I’m particularly fond of this feature of RSpec.)
\rf Run the entire spec file, e.g., rspec spec/models/foo_spec.rb.
\rd Run all the spec files in the current spec file’s directory, e.g., rspec spec/models.
\rs Run the entire spec suite, e.g., rspec spec.

The way the mappings are configured the first three mappings run rspec with the documentation format. The last one runs rspec with the progress (dots) format. I find the former nice when I’m running a small number of examples and the latter perferable when I’m running a large number of examples.