That's Tom's levergun bullet, isn't it?
I ground the bead off of mine and filed the blade flush with step under the bead. Still have to screw the barrel-mounted Skinner up nearly all the way to hit at 75. Brass bead and aperture are a no-go for me as well. 3.5"-4" groups are pretty normal for me as well, I think it's the Indian and not the arrow. I'd mount a scope just to see how well it can really shoot, but alas, mine is a first generation gun store queen and has no scope mount holes on it anywhere, not even under the rear sight on the barrel for the cantilever mount.