That's exactly it! I think Edward Horton once posted a pic of this one. Edward, if you are out there, could you please post it again!
Patrick
P.S: For a quick test, how about 1) remove the front handguard 2) pull up the barrel a couple of millimeters 3) insert a bit of felt so that the barrel has approx. the downwards pressure mentioned above 3) replace handguard 4) test fire - just to see if the POI alters (I think it must). If that moves the POI up, then you know the solution and that it will be worth taking time to the do the job by the book.