Start by measuring your rear dovetail and picking a sight with that size and the same height as the present sight with your proper sight setting. I made one for my own Pedersoli Tryon out of the tip of a railroad spike. Just a triangular slice hacksawed off the tip. I undercut the rear so the face would usually be in shadow. I made a narrow notch with the hacksaw, and made the top level to avoid canting the rifle. From the shooters point of view it would look like this;
http://www.trackofthewolf.com/categories/partDetail.aspx?catId=20&subId=134&styleId=486&partNum=RS-SCH-16First, decide on your loads and trajectory.
The ML competitions I attended were pretty standard, with bullseye targets at 25, 50 & 100 yards followed by a trail walk with ranges from point blank to over 100 yards. I sighted for a 6 o'clock hold on both the 25 and 50 yards bullseye with a file. It should be bang-on for 75 yards. I then learned the holds for other ranges. e.g; 100 yards was a 6 inch drop. During the 5 years I was a regular competitor I was 1st or 2d in my local club 4 of those years. I don't know the courses of fire you will encounter, but 75 yards would be a good range to zero for. Some folks like to adjust the powder charge for each range using the same hold, but I could never understand why. I find a good accurate target load first and make a measure from a cartridge case to match. If you need a stronger hunting load, work that up separately and then cut a measure for it as well.
The part I can't answer is historical accuracy. One way would be to go into the books or a museum. Another way would be to search the Track otw catalogue and look at what is on the rifles and kits about your time period. And finally, wait for one of the real x-spurts to chime in