Sighting in

[hawk1]

Ok... so I was given some 168 grain Hornady TAP .308 FPD ammo and I was checking out the trajectory table on the back of it. Since I've never shot anything past 200 yards I've never paid any attention to numbers in the table. I'm curious, when the table says that at 500 yards the trajectory is -48.9. I'm assuming that means that at 500 yards the bullet is going to hit 48.9 inches BELOW what I'm aiming at, right? So does that mean then, that if I want to shoot an ELK at 500 yards, I have to aim 4 feet above it?
Then, if my scope (which is 1/4 MOA) is sighted in at 3 inches above the bulls eye at 100 yards, how many clicks would i have to "go up" to not have to take my crosshairs off the target at 500 yards?
I feel dumb asking this question, but I've never had an opportunity to talk with somebody who has shot well at long distances. I know there are countless variables that go into precision long range shooting, but say one is presented with the ideal shooting situation i.e perfect conditions, how difficult is it to shoot out to 500, 600 or 700 yards?

[spleify]

Well for starters its not hard at all to hit targets at 500 600 700 yards, just takes practice and learning your weapon system.

Yes(and no) your projectile will drop 48.9", but like you mentioned there are many variables that will play into that, wind, humidity, pressure, altitude....etc.

Where is your rifle sighted in at, you mention it hits 3 inches high at 100 yards so what yardage did you sight in at. I always sight my rifles in at 100 yards then I compensate from there. You say 1/4" but is that for 25 50 or 100 yards.

[hawk1]

My rifle is sighted in at 100 yards. So at 100 yards it hits 3" high. I've always been told that's plenty compensation for any game-size animal out to 300 yards. The windage and elevation knobs are 1/4" clicks. Today I was able to shoot a sub-MOA group at 100 yards. But at 300 yards, I was about 7" low. . The wind wasn't much of an issue, nor was anything else. I am confused as to what to do. Do I have to compensate more at 300 yards or shouldn't my bullet be pretty much dead on?