I think Matt is going to say much the same thing as I am about to. As BlackFrog made reference to, it depends on what type of binocular you are looking for.

Compacts? 10x25, 8x21, etc...?

Porro Prism? 7x35, 10x50, etc...?

Roof prism? 8x32, 10x42, etc....?

I received a few Cabelas gift cards for Christmas so I decided to upgrade to a decent pair of new binocs. I had used the compact models for many years with no real complaints other than I rarely took them out of my backpack. I really did not use them that much and it took me awhile to realize why. They didn't help that much as the field of view was relatively small and the small objective lens diameter really didn't offer that bright of an image (I am referring to the typical Simmons, Bushnell, Tasco "8x's"). So, two years ago I picked up a pair of 10x42s as I saw many folks commenting on them here and using them in the field. I was instantly impressed with the increased clarity and brightness along with the slightly increased magnification level. It made it much easier for me to count points for our new antler restrictions.

However, when I started to do the research around Christmas I discovered that "roof prism" binocs like the ones I had been using had more lenses/glass than your typical porro prism binocs and thus did not offer the same level of brightness and clarity when similar sizes were compared. In order to compensate for this the binoc companies put a phase coating on the prisms to correct for the loss of light but only the mid-price range roof prism binocs have it. You have to expect something in the $300 range at least if you want the phase coated roof prisms.

In that regard there were about 5 models I narrowed it down to....the Wind River Cascades, Bushnell Legend, one or two Cabelas' models and I think the one you made mention to earlier, the Nikon Monarch ATB. After comparing them side by side I went with the Nikons for one simple reason. They were as bright and clear or brighter than some of the other models and yet they were also the most compact at 5.5 inches in length and around 21 or 22 ounces.

Now, if $200 is your max spending limit then I would probably suggest either the Bushnell Trophy series or the Nikon Sporter. Neither is phase corrected but other than that there is not much difference between them and their slightly more expensive alternatives. You will notice a visual difference between each pair but like I said, if you only have so much to spend......

Hope this helps.