Thanks for the replies. If you had to rank the following, how would they stack up against one another?
Terra
Legend Ultra HD
ZRS HD
Meopro
(all 8x4X)
I know it's human nature to want to "rank" everything and declare a winner, but the truth is they are all excellent. Just different packages. It really depends on your needs and priorities.
The ZRS and the Legend offer very wide FOV's, but trade that off for greater edge distortion and curvature/pincushion. The Terra sacrifices FOV to the Bushnell and Zen-Ray, but trades that off for a better corrected FOV off axis. But in terms of general characteristics on axis (brightness, resolution, etc) they are all probably within spitting distance of each other. The Terra is also at a higher price point and thus offers superior build and mechanics, such as its butter smooth focus knob, solid eyecup rotation, etc. I assume the same is true for the Meopro, being at a higher price point like the Terra and also with a more modest FOV; although it's the only one I haven't used, Meopta has a great reputation and I trust the reviews of those who have tried Meopros and reported excellent build quality and optics.
Anything else worthwhile in that $250-400 price range (that's waterproof)?
Man, there are just tons. That's a very crowded price point. All roofs at that price point will be waterproof so that's not really a concern.
At the $200-250 level, in addition to the Legend and ZRS you have the Vortex Diamondback, Sightron SII Blue Sky, Bresser Everest, and thanks to sales and a $50 rebate the excellent Vanguard Endeavor ED.
As you creep towards $300-400, you get the Terra, Meopro, Zen-Ray ED3 and similar "clones" like Vortex Talon HD, Alpen Wings ED and the similar Celestron Granite, Minox BL BR. Plus you have the classic leaders of this price point, the Eagle Optics Ranger and the Nikon Monarch, which have somewhat narrower FOV's but offer reliable, highly reviewed and time tested packages.
IMO if you really want to keep it at $250, there isn't a better value right now than the Vanguard Endeavor ED. It's fully competitive optically with the $350-400 binoculars like the Terra or Zen ED3, extremely bright and sharp with solid mechanics; it makes the same trade-off as the Terra by eschewing the wow factor of the 8 degree FOV but delivering a better corrected field. Normally it sells for $300+ but you can find it for $300 or less and then take advantage of the $50 rebate to bring it down to the $250 price level.