They're both great scopes. I personally prefer the Leupy VXIII. People are quick to point out the VX III is not on top of the hill in the optical clearity department. But I think the optics of the VX III are good. Good enough that you'll never miss something you'd see with another scope IMO. And when you look at all the other ways you can measure scopes, Leupy rules the roost. Compare other things like; weight, reticle choices, dependability, tracking precision, customer service, metal turret caps, overall fit and finish, compactness, etc.etc. When you look at the whole picture the Leupold VX III is still the scope by which most others are judged IMO.
And I actually prefer the traditional focus of the Leupold vs the quick focus ring on the European style scopes. The quick focus is easily turned while turning the magnification on some scopes. Plus you cannot run flip-up scope caps with the quick focus style. I also like the compactness of the leupold eyepiece when operating a bolt action with gloves on.