If the scope is always held plumb, a little rotation of the scope in the rings will matter little.
For instance, if the bore is 1/4 inch to the left of plumb when the scope is plumb, and then the gun is zeroed at 200 yards, the bullet will continue to go right until it is 1/4 inch to the right of the bull - at 400 yards. ( Bulls eye - not Bull moose)
If the scope is adjusted then to shoot 12 inches higher at 200 yards but still held plumb, the bullet will still be on the plumb from bull at 200, and at 400 will have dropped straight down the target and will again be 1/4 inch to the right.
If however, the rifle is held off-plumb from how it was zeroed, any rise that was adjusted in to compensate for bullet drop would double the offset of bullet line-of-fall to the bull plumb line from 200 to 400 yards - and it would be considerable.
Remember how the bullet may rise to the height of the scope in say twenty-five yards, well if the scope is held out of plumb by 1/4 inch from the bore, then it will keep going in that direction by 1/4 inch for every 25 yards.
So at 25 it will still be zeroed - or very close, and at 200 it will be 1 3/4 out and at 400 it will be ( 15 x 1/4 = 3 3/4) 3 3/4 inches out in the direction that the scope was leaned. Lean it one way once and the other way once and we have quite a spread.
In application of this for hunters, Leeper and RifleDude are right. Put on your hunting clothes and grab your gun and sight out the window at the cat down in the pasture - then check the crosshairs to the window frame - then loosen the scope make the crosshairs plumb.
The trouble is carrying the window frame around the bush to line up with so the crosshairs are always plumb - but we do the best we can. : )
In application for benchrest - use a built in level or a bench block that levels the rifle consistently - because if you get the crosshairs off plumb, that will stack up by the total distance to target, divided by the distance until the bullet first crosses the line of sight ( less one ) times the amount that the crosshairs are out of plumb from the rifle bore. 1/8th of an inch out one way and then the other might spread your 1000 yard group by as much as (1000 divided by our assumed 25 yards to the first time the bullet crosses the line of sight = 40 - 1 = 39 X 1/8 = 4.875" x 2 ( because you leaned first one way then the other) = 9.75 inches of spread at 1000 yards.
If held plumb and zeroed, even a poorly leveled scope is better than a perfectly mounted scope held even a little off plumb.