RE: Nikon Monarch vs. Leupold VX-III?
Ignore the name on the scope and the price.
Sounds to me like you've already picked the Nikon for it's features. (3 - 12X)
A short story: I went to Cabellas a few years ago to buy a Leupold for my new .300 Win Mag. Leupold because "it's simply the best!".
Wrong. Cabelas has a rifle stock that allows you to put 2 scopes on it at once so you can A/B 2 together for accurate comparison. The Nikon blew me away. Much clearer, sharper, BRIGHTER imsage than the Leupold. Was shocking and really no comparison. Only question was, "How will the Nikon hold up on a shoulder buster like the .300?"
Still on the gun with ZERO problems since.
And I saved some money too. So go with the Nikon, you won't be dissapointed.
I was so impressed that I have a nikon spoting scope, binoc's and range finder!