oklahunter,
Yeah, I would expect that lining up the two aiming points would eliminate parallax.
The same thing happens when we hold our head far enough back from a scope that we don't see the entire field of view. Instead we're seeing the exit pupil--and if we center the exit pupil in the rear lens parallax is eliminated.
The dreaded "black around the image". Somewhere in Alaska Art's head is exploding.
This is a technique I use all the time shooting long range with my non-parallax-adjustable scopes. Pull back a bit to minimize parallax.