Here's what it really looks like:
http://i61.tinypic.com/2507dxt.jpg
When hanging down bat-style from your knees off a tree branch?
But seriously - the way to go about this is to find out what that reticle subtends at a known distance.
1 - Put up some paper and measure marks on it all the way across that will be visible through the scope. Make it big enough so that the entire reticle can be captured upon the ruler/stadia you are drawing.
2 - Measure it. From the center crosshair to the inside edge of the circle. I would also measure the full OD of the circle.
3 - Once you know that, you will know what the bottom/inside/outside edges of the circle subtends in either MIL or MOA.
Suppose (for argument's sake, I don't know) that it winds up showing 11" from center to bottom inside edge of the circle.
MILS: 11 / 3.6 = 3 -- We are now figuring out the angle.
In that case the bottom inside edge would represent a 3 MIL hold over.
Now look at the drop of your bullet in MILS. Where do you find 3?
Most likely it will be right around 425M for me (smk77@2700fps) but it depends on your bullet and velocity.
Then go verify it.
As long as you know what your bullets are doing, you will always be able to make sense out of the reticle by using it as a ruler to find the angle. Can also be done for MOA.