rock_jock
The difference between the line of sight and the center of the bore is called the offset. All other things being equal, the greater the offset, the higher the arc of the bullet trajectory. Conversely, for a given offset, the farther out the zero, the flatter the trajectory. If you want to use your rifle as configured, you might want to zero it out about 50-75 yards or more.
Keep in mind that, no matter what the offset, you have to compensate for it when shooting very close. The difference between point of aim and point of impact is called holdover. For example, a standard AR-15 with carrying handle and iron sights has an offset of about 2.5". That means that if you shooting at something point blank, you would have a 2.5" holdover. You would have to aim 2.5" high to hit an exact spot. Even at 5 yards, you would have about a 1-2" holdover to hit a very precise spot. Once you have a good zero, you can figure out the short range holdover by experimentation. The longer shots should be okay as you flatten out the trajectory.
I have an Aimpoint red dot optic on my Bushmaster, mounted so that I can see the iron sights through it. That keeps the offset low, and also allows me to use the iron sights if Murphy kills my Die-Hard when I need it most. It's fairly easy to learn to ignore the iron sights while using the red dot.
For more discussion of this and most other topics, the AR-15 bible is: "Some of the Answer, Urban Carbine" by Jim Crews. Only place I know to get it is directly from Jim at
http://www.marksmans.com
Check out his training schedule also. I highly recommend his course. He not only teaches the mechanics and the tactics, he fine tunes you and your rifle to fit each other.
Good shooting.
[Edited by sigmund on 06-07-2001 at 02:52 AM]