I bedded these rifles, tried lighter bullets, but in the end, you are not going to get an elevation reduction of eight inches at 50 yards by trying them.
You are going to have to get a taller front sight.
Remember to take a file with you to the range. Don't be to aggressive on filing the front sight down, or you will have to get another.
I try to file the sight to point of aim, with the ladder a slot or two above the lowest setting. That way, I have some margin.