Curtis: whenever I have used a peep sight with a bead I have put the top of the bead at 6:00 on a target and adjust to hit a couple of inches high at 100m, which allows me to hold for longer ranges with a dead on point of aim/impact.
I have tried to use a bead with a dead on hold for circular targets at 100m but the darn bead just about obscures the target or makes it tough to take a center hold even with a larger target. It's probably my old eyes but I'm sure if the darn target was paitned on the side of a barn, and a big one at that, I could hit it well...............maybe...........
I think, but am still not certain, that a typical bead sight on a rifle amounts to about a 4" circle at 100yds. HTH. Mikey.