I have read some reviews of the Monarchs not holding their zero from year to year. Read some of the reviews on the cabelas web site. The people who don't have this problem with this scope say that the glass is extremely good! I have heard that Nikon makes the Glass for the VX1, VXII and VXIII. (Leupold doesn't make their own glass but puts together very well made scopes).
Leupold VXI = Nikon Prostaff (Glass only)
Leupold VXII = Nikon Buckmaster (Glass only)
Leupold VXIII = Nikon Monarch (Glass only)

I have also heard feedback from other people that work at sporting goods stores that the Nikon customer service is much faster (and in turn better) than Leupold recently. That can mean a lot when buying a new scope.

The Leupold VXIII (with Roman Numerals) were all on sale at cabelas a while back. They then came out with the Leupold VX3 (which is the same but the improved the one spring I think the one that holds the zero and they painted the outside rim of the glass black to give a little better clarity).

I would give the Monarch another try (the reviews on cabelas site rave about the clarity). And with better customer service for a lower price you can't go wrong! If it doesn't work out the second time then switch.

Good Luck!!!