You'll be far better off with a 40mm lense than 50mm. You'll save money and get a better scope. 3-9X is plenty at those ranges, but if you want to go up to 4-14X that is a personal decision.
The VX-3's are great scopes, but for my money the current production VX-2 is as much scope as I can ever imagine needing. I have older VX-3's, VX-III"s and even Varix-III's. My 2012 made 3-9X40 VX-2 is better than any of them and rivals my Zeiss Conquest. Leupold upgraded their entire lineup for 2012. This years VX-2 is using 2011 VX-3 technology. Current VX-1's are using VX-2 technology from 2011.
Mine has the long range dots. It is not as busy as some others, but works perfectly. Zeroed at 100 yards I can easily make hits at 200 and 300 by just using the correct dot. Haven't tried it at 400 but see no reason it won't work their either.