Thanks for the comments everyone! I took the rifle out in the backyard this afternoon and fired a few rounds before I got rained out.The only ammo I had was Remington 405gr but it shot a decent group after I messed around with the windage and elevation to get the rifle on paper. I have some 45-70 dies and brass so I may try some black powder loads for this rifle in the near future.
Some issues I had with the rifle:
I removed the import safety because it was driving me crazy. Its a small lever that puts the rifle on safe every time you open the breech by blocking the firing pin. It's easy to forget that it is flipped on so when you pull the trigger you'll end up with a click instead of a bang. I'm used to using half cock safeties anyway so this modification simplifies things and it is easily reversible. The tang sight works well but in order to adjust your elevation you must loosen the aperture which also allows it to move left to right. I don't know if all the Vernier sights are like that but it seems like it would be easy to mess up your windage if you aren't careful. I would also like to get a set of inserts for the front sight since the previous owner installed an insert with an extremely fine post that I find hard to see.
Overall I'm pretty happy with the rifle and if I get can get it dialed in really well I may take it deer hunting this year.