RE: When siting in a scope...
Also, if you're 2" high at 50 yards with a CF rifle, chances are you'll shoot over an 8.5x11" paper target at 100 yards, or you'll just barely clip the top. I generally do my initial sight it at 25-35 yards, and get it dead center, then move back to the 100 yard line.
As for adjustments, most scope adjust 1/4 MOA per click. At 100 yards, this translates to 1/4" per click. At 50 yards it's 1/8" per click. Some scopes have finer or coarser adjustments (like 1/8 MOA on some target scopes. and 1/2 MOA others), but yours should have this per click value printed on the scope, on or near the turrets.
Also printed on the turrets will be an indication of direction such as "UP" with an arrow and "R" with an arrow. This refers to the strike of the bullet. If you want to move the bullet hits right, turn in the direction of the "R" arrow. If you want the bullets to hit higher, turn the top turret in the direction of the "UP" arrow. To go left or down, turn them the opposite direction.
Mike