I have no vested interest in promoting one model over the other, I like them both alot, but I must say that unlike some of the previous posters, I actually prefer the 7x42 Classic over the FL. I MUCH prefer the ergonomics of the Classic because its narrow tubes and virtually bridgeless design allow a wrap- around grip. In direct comparison (under a limited set of conditions--inside Cabela's looking around the store, at bright lights and front doors/windows), I also found the optics of the Classic much more to my liking. The FL has a much flatter field than the Classic, but the deterioration in sharpness away from the center is mostly due to astigmatism in the FL whereas it is due to field curvature in the Classic. As a consequence, in use, I found the image of the Classic much more restful, and its sweet spot MUCH larger (but note: my eyes still have much accomodation ability). I find the color rendering of the Classic to be much closer to neutral than many other excellent binos (Leica BN, older Swarovski SLC, Swarovski EL) so I don't think there is anything compellingly better about the FL. I also found the flare resistance of the Classic and FL to be different but comparable (they had different strengths and weaknesses), and I consider the contrast of both to be better than most other premium binos.
Would I replace my Classics? The quasi-collector me would--they're one of the great binos of all time, a true classic. The birder me wouldn't--I'd get the Swarovski 8.5x42 EL (newer faster focus version) instead.
--AP