That depends if you want the cheap version or the expensive version.
The cheap version would be to just raise your peep and drop your sight (as you have already done) and possibly a new set of skinny target arrows that are just a little over IBO.
Or the expensive version would be a proper target bow, with a fully adjustable target sight and a small scope (about 1" or a slightly larger), a stabilizer of at least 30" with a reasonable weight on the end, and a new set of skinny target arrows that are just a little over IBO.
And lots of practice with either version !
"Smarten up and Martin up"
(My Bows) '07 Scepter 4 Nitrous-X (B) Magnum, - '07 Scepter 4 Nitrous-X (A) Elite, - '05 Slayer Nitrous-X (C) Magnum, - '98 Scepter 2 Nitrous-X (A) Elite
(Wifes Bow) '01 Phantom Nitrous-X (A) Elite (LH)
(Kids Bows) '08 Leopard Nitrous-X (C), - '06 Tiger Mini-Z