For the money, monarchs are overpriced from what I have seen. They are good, don't get me wrong. The were one of the trully decent binos in that price range for a long time. Today...there are alot of excellent choices that outclass them with less money spent.
Try the Vortex Diamondback, Minox BV series as two options that will perform with the Monarchs for less money. Doug at Cameraland has a screaming deal on the BD10x42BR ASPH for about $360. These are a definite step up from the Monarchs.
For $200 you can get a new Vortex Diamondback which has the latest coatings, and for around $150 you can find the "old" version of the Diamondbacks which are really good including Phase Coatings on the lenses. I think Doug was selling the "demo" Minox BV for around $180 and they are definitely a great glass for that money.
Remember, if you are buying a roof prism bino, like the Monarch, you want Phase Corrected prisms. This coating helps to "bounce" the reflected image properly to your eyes. It helps to keep the colors crisp and the image sharper. Many years ago, only the top shelf glass had PC lenses. Today you get them in glass costing much less. The Monarchs are the lowest end bino in Nikon's line that has Phase Coatings or Correction. I have heard that Nikon is coming out with a new Monarch that is supposed to be even better than the older version. I am sure that this will put them back up where they should be. I like Nikon products alot, I have just seen these other companies set their "sights" on them if you will and have surpassed what you get with the Monarch. Sometimes for less money too.
If you want Vortex products, get hold of Cowslayer or Doug. Both are great people are will treat you right. I bought my Vortex Razors from Cowslayer and he treated me very well. I have bought a scope, spotting scope and rangefinder from Doug. All transactions went extremely smooth.
Doug will be the right guy for Minox. His deals are outstanding. I owned an older BD10x42BR before the "ASPH" lenses. They were great, but I replaced them with my Vortex Razors. I also own a Minox BD8x32BR ASPH. They are terrific.
Just thought that I would chime in and offer this advice. Take it for what you paid for it;>)
Firehawk