The Pentax 8x32 ED is a spectacularly good binocular: the image is satisfyingly sharp, colours are accurate and well saturated, CA is virtually non existent and everything about it adds up to a highly practical binocular that is a delight to use. The question isn't whether to pay an extra 200 for the ED compared with the non ED version, but whether to pay an extra 500 for Zeiss, Leica or Swarovski. I wouldn't!
Fully agree with the above quote; in that the true comparison is with the alpha range. Now I have not even seen the SP,; I have a fantastic sample of a 8x32 ED. It is everything that the above quote have said. On mine the focus is like fine virgin olive oil and the picture is superb.
I have spent hours comparing the ED to my 7x30 Swaro SLC-which it (the ED) does beat the SLC by quite a bit. And I have spent a lot of time looking thru 2009 Swarovski 8x30 SLC and Swarovski 2009 8x32 EL and also the newest versions of the 8x32 Nikon SE and 8x30 EII's and also an 8x32 Meopta Meostar and a 8x42 Vortex Viper-comparing all of the above to the Pentax ED and the ED more than holds its own.
In my back yard on my deck I can look 300 to 400 yards down to the River and I can also look a couple miles across the Valley at the south facing hills across the valley. I watch Eagles, Osprey, other birds, elk, deer, moo cows, horses, the river rapids, vegetation, bark,etc. as test subjects. I also take the my binos out in the field to lots of places in the state.
I thought to my eyes my ED in almost all levels of optical performance the Pentax Ed was better than the meopta 8x32 and was also better than the 8x30 SLC. The Pentax ED was just tons better to me when compared to the Viper. The ED did very well-almost neck and neck to me to the 2009 8x32 EL, with possibly a very slight edge to the EL.
As far as the 8x30 EII and the SE, they are a little different animal when comparing a porro to a roof because of the overall great view of the porro's. But optically as far as resolution, sharpness and color saturation, CA etc., the ED does very well when compared to these fine porro's. The ED's are very bright and have a great pleasing view. The Nikon porros may have just a touch better detail resolution, but it is very, very close. It is almost like splitting hairs. In low light of sunrise and dusk, these ED's really shine.
I have to say and I do not know why ( I guess it was because I did not have much previous experience with other Pentax binos except for a pretty fair 16x50 porro), -but I was somewhat shocked by the way this Pentax ED roof compared to all these very fine optics.
IMHO based on my experience with an ED, if I was looking in this price range or the alpha range I would not hesitate to strongly consider the Pentax ED. To me at $799 new at most places for the 8x32 ED- I consider it a real bargain, if not a steal.