Concerning the Nikon Monarchs, I have read some good reviews of these in mags, but have seen them recieve bad reviews on some birding forums. Some people don't like the ease of focusing and they could be brighter.
Also keep in mind the Leupold binocs are not made by leupold but are "Imported" by Leupold from Japan. Have read some good things about the Leupold Wind river Katmai model.
In the same price you need to check out The All time Inexpensive Binocular Cahmpion of the Bird watchers, The Swift Audubon 8.5x44. Around$279.99or $379.99 withExtra-low dispersion (ED)glass. They are a porro design and water/fog/shock proof with lifetimewarrenty. Swift also makes a roof prism model. The Swift Audubon Roofs are 379 but I don't know if they make an ED model in the roofs.ALot of people swear by these binocs over the last 25 years and Swift keeps improving them to keep them current. Do a search on Yahoo or Google for "Swift Audubon reviews" or Binocular Reviews and see wht you get.
Good luck
Okcmco