Also, I would consider these binos:
1. Bushnell Discoverer 7x42 Binoculars(614207)
2.Swift 8.5x44mm BWCF Audubon Birder Waterproof Binoculars(820)
3. Leupold Cascades 8x42mm Internal Focus Porro Prism Binoculars(60992)
4. Nikon Monarch ATB 8x42 Waterproof Binoculars(7430)
5. Nikon 8x36 Monarch ATB Binoculars(7513)

This is what I came down too along with the Pentax model listed here. I have not seen the Leupold Cascades yet, but they are the most interesting of the group to me as a potential new bino which is great??

The Pentax get taken off my list because of the plastic body which I guessed would not be durable enough if it got banged around on a cold hunting day.

One thing I think gets overlooked is that the winged eyecups would be nise in the wind, if you do not have glasses. I may try to retrofit!!

I will readily admit I have no experience with the Carson series of bins. They do come highly recommended from a few folks over on AT and opticstalk. Their brightness levels are advertised as relatively high compared to similarly price optics. Beyond that I cannot comment.

My new "bin of favor" are the Vortex Razors. However, even at their demo price they are a bit above what you were looking to pay. However, I did see the Viper model, same high quality ED style glass and coatings with a somewhat narrower field of view compared to the Razor, on demo sale for about $350.

On the other hand I do like the other folks' suggestions. The Pentax SP series are superb binoculars. I owned the 8x32 for a time and it probably is my current favorite "sub-$800" 8x32 roof prism glass. The 8x43 model offers basically the same image qualities but with a slightly narrower field of view.

And, again, the 7x42 Discoverers are also one of those rare gems that folks tend to overlook possibly because of either the weight or the 7x magnification...neither of which really takes away from their performance or appeal in my opinion.

How do the 8x42 or 10x42 Discoverer's compare. Do the higher magnifications put enough challenge on the optics to put them back into normal, or are they great also, but with more power?

Actually, the 8x42 Discoverers have the same field of view as the 7x42s. The only thing you are really giving up is a bit of depth of field and possibly a bit of brightness. Other than that I thought the two were entirely comparable. I did not try the 10xs.