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It probably means that there are two minutes of angle represented by each graduation on the adjustment dial, eg., APPROXIMATELY 2" @ 100 yards, 4" @ 200 yards, 6" at 300, etc. But, it would seem to me that the adjustments on a 3X-9X scope would be finer than that. If I recall correctly, the graduations on my (older) Leupolds are 1 MOA.

Keep yore powder dry!!

Depending on what a guy is talking about MOA can mean two things. True MOA as it was defined originally, (Minute Of Angle) was defined as 1.047" per 100 yrds. The old match rifles that boyscouts and military shot used open sights that each click meant a 1.047" deviation at 100 yrds. Some guys call whatever their glass is rated to their MOA, which is what it was originally designed for in the first place. Basically, if you made a rifle as precise (tight grouping) as it ever could be, the optics would set how accurate it can be (how well it strikes compared to the aiming point). If a scope only allows you to adjust it in increments of two inches (2MOA), it's not getting you very close to your target.

I don't know what Leupolds are listed at, but even the cheap Tascos and bushnell's and such that I've been shooting are .25MOA adjustments, and they mean it, I've tested them to it, and it's as close to .25" as it can get. I can't believe that a Leupold would be 8 times less precise as my el cheapos, are you sure you didn't mis-read it, or does it say .2MOA??

Screw the 10 ring, keep them in the zero!!!

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I bought a Leupold VX II 2-7x33 recently and it has 1/4 MOA adjustments.