You've got it. The upper assembly can be removed for transport or storage, and the sight can be locked on an elevation setting if desired. In normal use, the screw is kept slacked off. These are precision sights, made for serious target competition. Fortunately, the rules of the day prohibited alteration of the rifle in order to mount target sights, so the sights can be readily installed on any rifle. Don't worry about the range scale in yards. Learn to use the minute of angle Vernier scale for elevation and windage adjustments. Makes precise, repeatable adjustments easy.