First off,
WELCOME TO GRAYBEARDOUTDOORS! The Nikon Buckmaster is a direct comparison with the Elite 3200, with the only real difference being that the 3200 has rainguard. Both are very good scopes for the money, but, if I had to choose between the two, I would pick the 3200.
As far as the Nikon Monarch is concerned, I own several and have never had any problems with them. In fact, I'm going to get another Monarch 3x-9x-40mm for my new Tikka T3 in 6.5x55. However, keep in mind that the Monarch should be compared to the Elite 4200. As such, you really can't compare the Monarch to the 3200 because the Monarch just has better optics. However, I would think that a fixed Monarch would only be a bit more than a variable 3200. I don't know by how much, but I'd go to theopticzone.com and check their prices - that's where I buy most of my scopes from since they are one of our sponsors, and also because they have some of the lowest prices around. Heck, I used to buy scopes from there even before they were sponsors of ours because their prices and service was excellent.
In the $200 price range you are talking about, it's hard to beat an Elite 3200. If you can spend a little bit more, then get the Monarch.
Zachary