A little clarification on MOA, if you're interested: The 1/60th of a degree he's referring to is the angle of an imaginary triangle between the muzzle, the bulls-eye, and the point your shot hits. If you imagine your shot hit 1" high at 100 yards, and then draw a triangle connecting the three points I mentioned, the corner of the triangle at the muzzle will measure 1/60th of a degree, or one minute of angle. The bottom line is that when you hear somebody talk about a 1moa rifle, they generally mean they can shoot a five-shot group with a spread of less than 1 inch at 100 yds, which is obviously pretty good. (Depending on what context we're talking about, obviously. Shooting a 1" group at 100yds will get you laughed out of a benchrest competition. Those guys are absolutely ludicrous! OTOH, I'm pretty sure that every game animal you'll be after with a rifle has a wheelhouse measuring greater than 1 inch across...)
A little side note I find interesting: Latitude and longitude are referred to in degrees, minutes, and seconds, so the minute of angle correlates to navigation, as well. For latitude, the Earth is divided into two hemispheres, north and south, with each divided into 90 equal slices, which are referred to as a degree of latitude. Degrees are broken into 60 minutes, and minutes are broken into 60 seconds. One minute of latitude is roughly equal to one nautical mile (2000 yards). Longitude is similar, except that there are 180 degrees of longitude in each hemisphere, east and west, which, instead of being slices of even thickness, radiate out from the north and south poles. The degrees and minutes works the same, but because the width of a degree of longitude varies with latitude, they don't correlate to a set distance. (At the poles all the lines of longitude intersect, so a degree of longitude at the exact north pole is zero, and goes up to 60 nautical miles at the equator before narrowing again as it nears the south pole. This is how submarines that go up under the ice "circumnavigate" the globe in about two hours; they drive in a small circle around the north pole, then say that they circumnavigated the globe because they crossed all the lines of longitude. Tricksy hobbits!)