I own a Bushnell 3200 4X12 (not as good as your scope) and it has been completely trouble-free. I coyote hunted with it today in fact. I have it mounted on a .243 and really like it. Very clear, tracks well, rainguard coatings work amazingly well. And I am picky about optics.
I would encourage you not to let this one defective scope bias your view of the 4200. I have always heard that the 4200 was the best value out there in optics.
I bought a Redfield Illuminator 3X9X44 (The old Redfield company in Denver, Co) years ago (early 90s) from a guy I used to work with. On the 2nd or 3rd time in the field after he bought and mounted it the objective lens fell out. He sent it back to Redfield and they completely refurbished it. He didn't want to wait for it so he bought another scope for that rifle and didn't need the Redfield anymore. I gave him $200.00 for that refurbished scope (which was much less than the new price) and put it on my 30.06. It is still there today and has performed flawlessly. I suspect that you will get the same level of satisfaction if you give the replacement 4200 a fair shake.
No matter how tight the QC is, every so often a bad scope gets past inspection.
If you don't like the replacement 4200 send me a PM and make me an offer. I would love to have it if the price is fair.
What power is it?
Mouthcaller
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Captain, Team 1 - The Last Gobble
2009 HuntingNet.com Spring Turkey Contest Champions
Chasing turkeys since 1981
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