Graylake,
The reticle works, but, like any other similar reticle, you have to kinda adapt the trajectory to the reticle. Like ballistic dot reticles, where changing bullets and powder will affect which portion of the reticle is attributed to a particular distance, so too is the Varmint Reticle.
As for whether it is worth the extra money, that's up to you. For some people it is, for others it is not. Unlike big game rifles, where you are shooting at, well, big animals, varmints are much, much smaller, so trajectory is more important, so it may be more useful.
The Elite 4200 is an excellent scope. The only thing that I don't like about it's 6x-24x scope is that it is just so dang long and heavy - which looks awkward when you mount the rings so close together on a little short action cartridge like the .22-250.
Zachary