Consider a set of binos instead. I have really enjoyed the Nikon Extreme EX porros at 12X. They make a 16X which would make a great moderate range spotter. They should retail around $150ish.
The resolution is superb in my bino and they are so much more comfy to use for glassing then a spotting scope. I feel they are better then low end spotters (never used the Leupold so can't say).
The best mid priced spotter I have used is the Nikon XL. I now have a Pentax 65ED spotter and that is superb glass allowing you to actually resolve that headgear through the trees. Not much more $$$ and so much more performance.
Jerry