A Nikon Monarch is a good scope. I would lean towards a BDC over a Mildot. Using a mildot for ranging is complicated. Outside of a military/defense application where you don't want the signature of an laser rangefinder, there's really not much use. Also, the dots on a mildot will be relatively large covering 1 yard at 1000 yards. Finally, at 1,000 yards, if your budget can stand to go with a 50mm objective I think you'll find it worth the extra although the 42mm should be adequate.

Also in that price range you can get a Sightron SII series scope.