I think it's easy to miss the point. Low dispersion glass can, but does not necessarily, improve the view. I can only say from experience that the standard Swift 804ED differs for the better from the standard 804. There are verifiable technical reasons to explain the difference, and they include more than just the presence of ED glass. The whole design was re-optimized to take advantage of it. Based on anecdotal evidence and some physical data, however, it appears that the 820ED is not much of an improvement over the standard 820. This may be because ED glass was simply substituted without other necessary refinements, such as air-spacing, or the differences masked by manufacturing variations.
I can't speak to the Zeiss FL series, since I don't own any, but from what I've heard they have similar properties to the 804ED. You need to know what to look for, but once seen it's hard to forget. The series was designed with the glass as an integral part. Given this way of thinking, the question in my mind is the extent to which Leica redesigned the system to get the most out of the low dispersion glass. Fortunately, it should be possible to compare the old and new models (for the fortunate subset of the population rich enough to own both). I'd be very surprised if it were only introduced for marketing purposes — but then again it wasn't applied to the entire series, which makes me suspicious.
As for the much-maligned, so-called "ratchety," focusing of the Ultravids, it's only a deficiency if you don't like how it feels. Personally, I like it — a lot. Besides, my cousin is a tribologist — and he likes it.
Blue skies,
Ed