You may want to consider the Crossman Premier Heavy 10.5gr. They seem to have a flater trajectory than the lighter 7.9 as often heavier pellets do. The velocity lost at 50yds by the 10.5 is only about 150fps less than muzzle and it carries a little bit more punch/energy (FPE) than the lighter 7.9gr CP. The 7.9 seems to lose about 200fps at 50yds and is slower by more than 160fps between 10 and 50yds. I 'm comparing it to the velocity tests of an RWS34 which seems to have similar muzzle velocity for the 7.9gr that you are talking about. See here:
http://www.straightshooters.com/ourtake/ottest34.html
Every gun is different so I could be off here.
I found out with my RWS350 .22 when sighting the scope, that there 's not much difference in how much the pellet drops between 10 and 25yds. At 30yds there is a considerable difference from 10 or 15yds, so I chose to sight mine in at 20yds because most of what I shoot is usually between 15 and 25yds out. I would go in the middle. If you'll be doing most of your shooting between 30 and 50yds, then sight the scope in at 40. Then see how much lower your pellets land on the target at 50 and how much higher at 30yds, so you will now how to adjust the crosshair up & down depending where your target is. The farthest I can shoot something safely on my property is ~35yds and that's always towards the woods behind my house. Even though my neighbor to the left is 50yds away and the other to the right 40yds, I don't like aiming my airgun towards someone's house even if it's high up at a tree or towards the lawn (from upstairs window) for obvious reasons. Frankly the 2" and 3" targets that I used to sight mine in, were not greatly visibile at 35yds through the RWS450 scope that my gun came with so I 'm in the market for a more powerful scope so I can feel comfortable shooting at a target 35+yds away or if I decide to take the 350 out to the field with me this upcoming hunting season in October.