Just saw this today, both of my 94's are dead on at 100 yards on the 2nd notch (from the bottom) shooting 170 grain ammo. I had occasion when I was young to handle model 64 (like a 94, but had a curved pistol grip)...I remember my dad and the old guy with the 64 talking about setting the sight on the 2nd not h and never having to move it...
I don't know what the yardage are for the steps in the elevator......never have used any setting other than that we one notch. Did try 150 grain ammo once and neither of my 94's liked them at all.....
Hope this helps with a starting point, anyway.