Re: This setup capable of 1000 yrds.?
Like folks have already said...the rifle, with proper ammo, is very capable of making hits at 1,000 if the nutt behind the butt does his/her part.
The scope...you may actually be surprised. The VX-3 4.5-14x50 Adj. Obj. scopes have 116MOA of internal adjustment, so you may be close even with a 100yd zero.
By way of observation...one big problem is that you have your scope mounted WAY to high above the centerline of the bore. Ditch the thumbscrew, 1-pc mount and pick up a good Larue 1-pc base with a 20MOA (or so) forward cant built in.