i'm gonna go with the flow on this one. if you want to move out a little further and challenge yourself more, there's no reason to buy new equipment. you should be able to engage human silhoutte targets with the setup you have now out to 300m with ease using standard m855 ball after a little practice. a little more practice and 400-500m should be doable, though the 4 m.o.a. dot on the aimpoint may start obscuring the target quite a bit at that range. you should still be able to use the irons at that range, according to the manuals. i, myself have not shot at that range yet. last weekend, though i shot a perfect forty out of forty on the army qualification course for my unit. this included 20 out of 20 shots at 300m on an E type silhouette target using a plain jane m4 (brand spanking new, though) and m855 ball.
sure you can use a magnified optic, but there really isn't much need for it inside of 300m.