If they center the target reticle, you will not be able to see it most of the time. It will be blocked by your own character.
I have the same issue as you do regarding trying to hit mobs, missing, and finding my reticle was not 'on-target'. I don't like it either; seems to not really work well. At least for me. I am sure it is fine for others.
I would like it to work such that once engaged, as long as I keep the target in my 90 degree forward cone, I would still be able to hit it. Unless I switched my targeting selection to a different target. Probably to much to ask of these guys.