Quoted: Thanks. Actually, you helped answer one of my questions in a round-about way. The fact that these newer models have "field-adjustability" is clearly a major difference that likely contributes to their increasing popularity (and their higher prices).
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The way I see it, there are two applications that these two types meet.
1. ACOG-type, general purpose, good for full size silhouettes to 500 yards, 10" squares to about 400. Hold-over is accomplished with built-in BDC and windage hold-off is done kentucky-style. The zero cannot be "bumped" accidentally because the adjustment screws are covered all the time.
2. medium-range/SPR, a "precision" optic with externally adjustable windage & elevation knobs. good for as much precision as your rifle can shoot. hold-over for large targets can be done using the mildots, hold-over for small targets done using elevation knob. windage can be done using either. these generally have no "BAC" capability (see TA31/TA11 ACOG) because their lit reticles are not bright enough, and there is always the change the adjustment knobs will be bumped off your zero when moving.
I see a place for both types, until something revolutionary comes out. I think the TA11 ACOG is the best of the first type. It is out of its element, however, at precise targets 200m or further, and at ranges closer than 20-40m. I'm not really satisfied with the current SPR/medium range optics either, see this thread for more discussion:
AR15.Com/forums/topic.html?b=3&f=18&t=199656&page=1-z