I've never tried this, so I wondered what a mil-dot scope would be like, as far as holding over for 45-70 trajectory. With a 300 grain Remington at 2400 fps it looks like this-
100 yards-1 mil high
200 yards-dead on
300 yards-not quite 1.5 mils low
400 yards-3 mils low
500 yards-4 and a quarter mils low
So if the wind ain't blowing 500 yards is feasible.
Now, 300 grain Barnes originals (higher BC), with low level Ruger loads at 2500 fps
100 yards-1 mil high
200 yards-.2 mils high
300 yards-.9 mils low
400 yards-not quite 2.5 mils low
500 yards-4 mils low
Now, probably the best 45-70 combination, 400 grain Barnes originals at 2200 fps
100 yards-1 mil high
200 yards-absolutely spot on
300 yards-1.3 mils low
400 yards-3 mils low
500 yards-4.8 mils low with 1500+ ft lbs
Now just for kicks, 45-120 with 450 grain TSX at 2400 fps

100 yards-1 mil high
200 yards-.2 mils high
300 yards-.9 mils low
400 yards-2.3 mils low
500 yards-3.8 mils low with 2000 ft lbs
To show what a horrible BC does, 45-120 with 250 grain TSX at 3000 fps

100 yards-1 mil high
200 yards-.3 mil high
300 yards-1 mil low
400 yards-3.1 mils low
500 yards-6.1 mils low only 450 ft lbs