Absolutely.
The shot saver will put you in the area, if you were that far off something went wrong or someone didn't know what they were doing.
Regardless of that, bore sighting by eye really isn't that difficult, then start real close to your zeroing target and take it from there.
Edit
As walshie has pointed out, bore sighting by eye on a semi isn't the easiest thing , so just start real close to the zeroing target and adjust as you move further away.
No it won't. The shotsaver is designed for resetting the scope after removing from the rifle for a rough zero back