I will help with dismissing them. Yes, you can make long range shots with ACOGs. However, being calibrated is a bit misleading. No, it is a lot misleading. The scope isn't calibrated to the particular ammo (weight, velocity, B/C) and environmental conditions unless you happen to be shooting the correct ammo out of a gun that will produce the correct velocity and are doing so in the correct environmental conditions.
Assuming the ACOG is calibrated for the M80 ball, then if you aren't shooting M80 ball at the same velocity and conditions, the reticle will be off..
So if you zero the scope properly and are using the wrong ammo, or it leaves the barrel at the wrong velocity, or the conditions aren't right, then the further way you get from your zero distance, the great the error of the "calibrated" reticle which means your POI differs more and more with distance from your POA as per the reticle.
The other problem is that the calibrated cross hairs are very limited to only particular distances. So if your POI doesn't match the 500 meter crosshair POA, then you have to figure out where it is and then just remember that it is about (e.g.) 1/3 the distance below the 500 m cross hair and the 600 m crosshair.
You can shoot precisely with an ACOG (I own 2), but it is much easier to shoot consistently precisely with a scope with target knobs and a bit know known range dope.