Justin,
Frank is right, I am using a pair of Pentax DCF-SP "Superior Performance" 8X43's and they are fantastic.
They're little pricey but still not up to the level of the Swaro's, and it'd take a machine and proof to show me that the $1000 glass is better. I can sit in my stand to the point where I can no longer see color, and everything grays together and when I put the glasses up things are still sharp and brighter than what my eye can do. They are very crisp and clear edge to edge with a very flat image.
(They also focus down to like 6ft if you want to do any pass the time bird watching on stand.)
They have pretty much the same features as the Monarchs, Legends in that $300 range , Phase coated/corrected prisms, completely waterproof yadda yadda yadda........but they use a fancy hybrid aspherical lens system and supposedly better glass and coatings.
If you look around you can find them very reasonably in the $400+ish range (Ebay, Online Optics stores) If you buy them from Cabela's they'll set you back about $500-600
I just read a full review on them and the editors compared them right with the high end Euro glass, and called them a best buy in that price range.
It's the last pair of Binos that I'll ever need for whitetail hunting, and I do not "Want" for anything better.

All that said........I would not feel handicapped in the least with Frank's Nikon Monarchs or my other buddy Frank's Bushnell Legend. Both are bright clear and crisp.
I would not call either of those "settling" on a pair of binos they are high quality.

I would call my pair the next step up, and if you want to get technical the Euro stuff is the top rung although I can't see a difference VS. mine.

Another alternative if you can find a pair is the discontinued Pentax DCF-WP 8X42's that are outstanding and can be had for a similar price to the Monarchs.
Supposedly the new DCF HR-II is what replaced these but I'm not sure? (The old DCF HR's are not in the same league though so cross them off)

All of these mentioned should be in your wheelhouse for price range..........but I guess if you keep tripping over the plugs there in the office we'll be chipping in to buy you a new pair soon.