Here's my inexpensive set up. Savage 10fple2a .308 w/ Bushnell 10x40 mildot.(total less than $900)
Scope is very good and holds zero. Used it to mil-range my steel plate the other day at three random spots.
First spot using the Mildot Master was 300yds,2nd 500yds, 3rd was 800yds. I couldn't believe I picked three random spots and the range I measured was so uniform. Well I went back later with a Bushnell rangefinder and found that the 1st spot was 288yds, 2nd was 508 yds and 3rd was 804yds.
Summary: My equiptment though inexpensive, is very reliable and accurate.
By the way I shot 3 shot group on the steel plate that measured less than 2.5" @500 yds. Not to many people can do that even with their $2000+ rigs. [img]images/icons/wink.gif[/img]
Take a look at this sight to help you with ballistics http://www.eskimo.com/~jbm/ballistics/traj/traj.html