Tyler:
You've got a good scope - don't sweat it. In terms of 50moa adjustment in the scope, depending on how high your rings and bases currently are, you might need to change them in order to get enough 'come up' to shoot 1k and 1k+.
Tyler - sounds like you're all set. Now get to the range and do some test firing. Then take some pics of that rifle and the results and post them in the Gun Photos forum.
Tyler:
As an FYI....I'm about to buy a Rem700 in .308. Like you, I'm not made of money. The scope I'm going to mount on the rifle is a Bushnell Elite 3200. It's a 10x fixed power scope with mil-dot reticle and has 80moa of adjustment. I bought it on ebay for $175. This very scope was reviewed on this website.....LongRangeHunting.com - Low Priced Long Range Scopes