Jerry I think we are getting at cross purposes here. I have shot my compound many times without a sight, I do it as a regular exercise. What you see through the peep when you are 5m away is pretty good at showing where the arrows will land.
Think of it like this; when you get to anchor and look through the peep, what do you see? The front sight, yes? What do you see through the front sight, the gold and some other colours,yes? Where is the gold? In the middle of the scope; and therefore in the middle of the hole you see when looking through the peep. At 5m where would your scope be placed? Up at the 20y setting? NO! down where the front scope is when you shoot 50m or so. So the normal alignment of peep and scope if the scope was fitted. Normal anchor point for medium distances. With both eyes open, looking at the boss the view is easier on the eyes than with the scope. It almost seems like shooting barebow.