The "optics" division shooting a M1-A will be problematic. Fixed stocks do not lend themselves to position shooting with magnified scopes. You would probably do better on a reduced course (100/200 yard) with a red dot if you have to use an optic.
Iron sights are very capable if you have good eye sight (usually under age 40).
You need a sling, a shooting mat, a shooting jacket and a spotting scope. You need at least two magazines, three is better. It allows you to dry fire with one during prep time.
I used 168 grain Sierra Match Kings going 2500 fps and Lake City brass for over ten years. 40.0 to 40.5 grains of IMR-4895 or H4895 or 41.0 to 41.5 grains of IMR-4064 will get you there. Varget, RE-15 and N140 would be good options as well.
My personal best score was fired with a M1-A in 1989, 489/500, and I have never been able to beat that score with an AR-15. That being said, an AR-15 is more accurate inside of 300 yards, doesn't kick, doesn't need expensive maintenance, is much easier and cheaper to maintain and it can be done at home, is better suited for optics and cheaper to buy even when tricked out. The competition world switched to the AR-15 around 1995 and it hasn't looked back.
.224" match bullets cost 2/3rds to 1/2 that of .30 caliber match bullets. .223 powder is just over 1/2 the cost when compared .308 per round. Surplus 5.56mm brass is considerably cheaper and easier to find than surplus 7.62x51mm.
While I encourage you to try the M1-A (I'm assuming you don't have an AR) you should know that the trigger group splines get hammered over the course of fire. They are getting harder to find and more expensive with each passing year. The last G.I. trigger group I priced was close to $200 and I haven't shopped lately. It's close to $100 just for the trigger group housing (no internal parts) but very few people are willing to sell them.
As already mention by 7zero1 glass bedding done right is a requirement, a yearly skim bedding will be required at the end of each season. Don't get the trigger tuned too light, if you do it won't last through an entire season. I like 5lbs., after it wears a little it will still hold 4.5lbs. as required under the rules. a 4.5lb. trigger will wear lighter. Most M1-A gunsmithing must be sent out. That means two way shipping costs and $80.00 an hour +/- labor costs. It also means you don't have the rifle until it returns.
NRA high power is a great way to get good with your firearm. Actual 200/300/600 yard tournaments are an experience everyone should have. Standing, sitting and prone positions really require some useful practice and dedication on your part to excel.