Bubb, good quality optics is critical to success.
It depends on what you mean by LR. For flat shooters, 1000yds is going to need around 20 to 30 min of adjustment from a 100yd zero. This covers just about every 1" scope that you can put target knobs on.
If you are planning on going further or using something like the 308, then more elevation is better. Shimmed bases and Burris Sig rings will help you get the most from your scopes.
The best bang for the buck is the Elite 3200 10X with mil dots. 80min of elevation and pretty decent optics. Under $200US. Enough mag. for hunting out to 1000yds - no kidding.
The most elevation for the money is the Tasco Super Sniper from SWFA. I like the 10X, not the 20X. Never seen the 16X. 120min of both wind. and elev for $300.
Leupold gets a lot of press but for the money, my eyes think there are better brands. If you are going to spend that type of coin, look at the Nikon tacticals, Elite 4200 target scopes, and IOR Valdada. I feel they all have equal/better clarity, brightness, and resolution then the Leupolds, for less money. Burris is also good but usually need factory installed turrents for most of their product line.
You can't hit what you can't see, and you need to have confidence that 10 clicks get you 10 clicks of adjustment. A factory rifle with a decent scope is much better then a custom job with unstable optics.
Jerry