Bushnell 4200 and 3200 Elites are a good route to take.
3200would be the ones I'd turn to at that price range
and if you can find a 4200 all the better.

The Monarch is an excellent mid level scope, but the 4200 with Rainguard is just as good or better and can still be bought for a better price, $250 or so.

I have owned 2 Monarchs. Both were on "used' rifles that I bought. One was something like 3-10x50 mm and the other 3-9x40 mm. The 50 mm was a 2004/5 vintage. The 40 mm a 2007 model. I was very disappointed in the "older" scope. The newer Monarch for whatever reason is much better .... even in low light performance. I sold the 50 mm and kept the 40 mm.

Try looking at Bear Basin Outfitters. I have bought scopes and binos from them in the recent past. Good folks. Not a "gray" dealer. I have zero experience with Bushnell Elites but others here have mentioned them as a good value ... Elite 4200 3-9x40mm for $270.

Go take a look at Nikons lines. I think that you will be impressed. I had one on my .308, and wish I still had it instead of the $1000 + Luepold I put on my .338.

Look at http://www.samplelist.com/

This site is by swfa out of TX I think. Good people, that have been a pleasure to deal with. This is the listing for trade-ins, display models, and factory reconditioned scopes. In fact they have some Nikon factory refurbs in "3.5-10x50 Monarch UCC , Matte finish, BDC reticle, 1" tube, 1/4 moa finger adjustable windage and elevation, fast focus eye piece, like new condition, factory refurbished." right now for 329.95. That is a good deal with a fullwarranty. Just a thought. If ya call them ask about the base and rings also.

Here are some good choices that will fit the bill(no pun intended)

[ol][*]Nikon Monarch 3-9x40 ( low 2's if you can find one used) not made anymore[*]Nikon Monarch 2.5-10x42(around 3)[*]Bushnell 4200 Elite 3-9x40(low 2's) [/ol]