Welcome Joesamwise. Butlersrangers gave you a lot of good info. Before you ditch that rear sight you may want to change the aperture to something that suits you better.
If your eyes are getting old and you really need a scope the long eye relief "scout scopes" are really a good deal for getting on target fast and have several other advantages. Some of the members here have some and have shared photos many times. I got a feeling they will not mind sharing again. Hint, hint.

I made a custom red dot mount for mine but it is for specialized hunting in low light situations. Looks way out of place on an old rifle.

If you pull that rear sight do not throw it away, you may want to reinstall it in the future and if not some of the members here would love to have it.