Sight
Drift it for windage. The USGI sights were typically set for elevation zero at 50 yards...nominally...which would put them at 2-3 inches high at 25. If the gun has a different barrel than the original...which it likely has...and there's a little downward play at the rear with the slide in battery, that would cause it to hit a little higher or cause some vertical stringing. Shoot the pistol from a rest at 25 yards with standard pressure 230-grain ammo. PMC ball is a good one to use for a control lot. Load 6 rounds in the mag and throw away the first round to eliminate the flyer. Shoot a few 5-shot groups and figure the geographic center of the groups. Ignore the group size and measure that center from point of aim to find the elevation POI above POA. 2-3 inches is normal.
I wouldn't install an adjustable sight on it that requires alteration of the slide...That Rand is a collectible piece, and if it's original or correct, it's a VERY collectible piece.