I agree with bigdaddytacp.
You really can't, or at least shouldn't, say that Euro optics are better than USA, or Japan, or vica versa. Remember that every scope manufacturer has different levels of quality within there product line.
For example, Leupold LPS scopes are WAYYYY better than Nikon Buckmater scopes. However, Nikon Gold scopes are WAYYY better than Leupold VX-II scopes. You can't compare apples to oranges.
I believe that the Nikon Monarchs (and Golds), and Elite 4200s, and Zeiss Conquests are all very good scopes and very comparable with each other. Now, I think that the Swarovski PH series is better than the Monarchs and Elite 4200s, but, surprisingly enough, not by much - at least not 2 or 3 times more the money.
Zachary