Tom,
I use a variation on the same concept with my .22 Hornet, which has a 3-9x FFII. When sighted-in 1" high at 100 with its full-power 40-grain load, I found the reduced load with a 43.5 grain cast bullet and Accurate 5744 lands right at the top of the bottom post at 50 yards with the scope set on 6x. The load gets around 1100 fps, and puts 5 inside an inch at 50.
