Ok, so here is an update... my rear sight were pretty off. I had a bullseye shooter (what are the chances) that works at the range confirm this. We were basically putting bullet over the same hole (high and left). I was able to loosen the set screws and drift the rear sight without too much trouble. It took a few attempts; however, as I would push the sight too far over one way, and then the other way... but I finally got it.
As for the elevation, it seems that 115g S&B hit pretty close to the correct elevation, but my 124g Montana Gold (1100ft/sec) reloads are still hitting high, even with the rear sight bottomed out. I might need a taller front sight.
The good news is that with a 6 o'clock, at 25 yards, I was able to produce a good group. The 5 shot group below was at 25 yards off hand with my reloads: 2.5 inches! Dead center, but still a little high with a 6 o'clock hold. This is one of the best groups I've ever shot!!!