If you are "quite taken by the Swaovsky [sic] 8 x 20s" and can buy one at a reasonable price, I think you've answered your own question, but I can understand you wanting to know if there are better choices. Seems like the Big Four compacts each have their followers for different reasons.
Here are some user reviews of the 8x20 Swaro:
http://www.birdforum.net/reviews/showproduct.php?product=123
I can't hold compact roofs steady even at 8x, too little weight and too little "real estate" for my hands, and they also give me tunnel vision with their smallish FsOV. I have an 8x23 Nikon Venturer compact porro. Bigger than compact roofs and a bit heavier, but still not as easy and satisfying to use as my 8x30 EII.
I think if I were looking for a compact today, I'd buy a Bushnell 7x26 reverse porro. According to Stephen Ingraham, it beats the alphas (also some good info on the pluses and minuses of compacts):
http://betterviewdesired.com/compact-binoculars-bvd.php
I'm surprised no-one, particularly Dennis, has mentioned the Swaro 8x30 CL - a "compact" bin in a midsized format.
The CL is small and lightweight but not too lightweight to give you the DTs like compacts, and the horseshoe body design allows you to wrap your fingers around the barrels.
Not optically on par with your full sized alpha, from what Dennis and others have said, but then neither are any of the compacts.
The advantage is that the CL will hold up better year round than a true compact roof due to its 10mm larger aperture. The CL has been lauded as being bright for a midsized roof, and you get a 56* AFOV vs. 51* for the compact.
When you consider that a Swaro 8x20 costs almost as much as the 8x30 CL, I can't see preferring the compact except for special purpose such as concerts or outdoor sporting events.
Brock