I haven't used an actual Aimpoint product but I have used several red dot scopes. They work pretty well, especially for up close fast type stuff. I even had one on my bow for a while.
There are also better designs than the scope type red dot scopes, but they are more expensive.
And yes, a 4 MOA dot means that it will cover 4 inches at 100 yards. Keep in mind red dot scopes are tactical in origin. They are similar to a laser, they were meant to shoot people sized targets at close ranges in the dark or poor lighting. They were not meant for long range precision shooting so how much the dot covers at 100 yards is not a huge concern. Mostly you see them on shotguns, pistols and short range tactical set ups where quick aiming is needed.
A laser works in similar way. They are normally designed to look the same size regardless of the distance you see them at. The bad thing is at 100 yards the dot projected might be half the size as someones head! If it was a tiny little dot like you see up close you would never see it that far away

.
They make some red dot type scopes with different reticles, Cabela's makes one or they used to anyway. You can turn a dial and change the way the reticle looks. Aimpoint may have a model like this as well, I haven't looked. I would suggest using one that is a circle instead of a dot. The bushnell holosight is pretty cool as well as in it has a dot with circle around it and you line the two up like a sight.
Also keep in mind they make regular low powered or no powered scopes with circle or diamond reticles that would work well for what you want. And you wouldn't have to worry about remembering to turn it on, or having the batteries go dead, or just having the device fail at the worst time.
I suggest shopping around and looking at several before you buy one.
I personally like good fiber optic sights for this type of stuff. Light, rugged and fast. Just my opinion though.
Good luck and let us know what you decide.
Paul