My suggestion? Take it to the range and shoot it off of sandbags first to see where it actually shoots. The sandbags are important since you don't want your gun wobbling around when you are sighting in, and the actually shooting part...well, some ARs hit high (due to the FSB being a tad short), but some do not. So, before you go spending anymore money, just shoot the darn thing.
Edited to say: after reading your post more closely, it seems you don't have a rear sight so you might need to get one first. The ARMS #40 is an excellent BUIS. Regardless of the height of the front sight post, the ARMS will zero. It just might hit a bit high due to the front sight post issue. If it does, call Bushmaster and ask for a .040" taller front sight post ($4.95) and it'll bring the POI down to the POA.