Welcome to Long Range Hunting.
I assume you have the 7mm Rem Mag in your 110FP and that should be fine for a while. I say a while because once you've caught the long range bug it generally means more rifles are on the way... this appears to be the natural progression of the "disease". It's generally not a terminal disease but might seem so at times!
You don't state previous experience at shooting competitively or at distance so again I'll make a bold assumption and figure no structured prior experience. This is not beginning to look good for you...you'll definately be getting more rifles if you take a liking to this.
I don't kow much about the Simmons Aztec scope but it should be able to get you to 1000 yards and if not you'll be able to buy a new piece of equipment straight away, either adjustable/tapered scope bases, adjustable rings/inserts or a new scope... In all cases you'll be on your way to a full blown case of "Long Range" disease shortly.
Ammunition will be a bit of a problem as I don't believe there's factory loaded 7mm Magnum Match Ammo... You'll need to find some very good factory ammo or reload. It'll be a pretty steep learning curve to learn to shoot long range, target shoot and load accurate ammo all at the same time... You'll of course learn/do this in steps but we often aren't as patient as we should be!
Go to the Butner match, hook up with a shooter (a good one... not the "best one" cuz he'll be busy) and tag along if he's (or heaven forbid it's a girl [img]images/icons/wink.gif[/img] ) willing to show you the "ropes".
Keep asking and posting, we're likely to enjoy helping... It's a lot more fun to spend someone else's money for a change! [img]images/icons/wink.gif[/img]