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ORIGINAL: timbercruiser
Usually the top three are Zeiss, Schmitt & Bender and Swarovski and it is usually a personal opinion as to which is the absolute top of the line. I have a Zeiss Diavari 3x12x56 that I absolutely love. The Bushnell Elite 4200 3x9x40is very close to the quality of the Conquest 3x9x40and it is about $125 less in price.
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Ditto! The "Big Three" are the best. They are the only ones to my knowledge that can claim 95% light transmission. Opically, they are all three pretty equivalent. They differ a little in other features such as reticle, weight, zoom range, etc. It's all a matter of preference. I have the Zeiss Diavari V 3-12x56 as well. It is awesome!
As far as lower end scopes, the Zeiss Conquests are excellent as well as the Nikon Monarch Golds! I have friends that have these scopes. They cost around the same amount as a Leupold Vari-X III, but are way better optically. I will never buy a Leupold again.