The new Leica's are great optical systems. The amount of difference between the Leica ER of today and the Leica-pold of old is amazing. They are what you expect from a high end European manufacturer in terms of clarity, color, contrast, and resolution. Really good field of view and with a large eye box, the scope is really easy to get behind and has ample amounts of eye relief.
It's hard to compare the conquest to the Leica because the two scopes are totally different. While the conquest (made by meopta) is a great optical system for the money, it's not a leica. I think a better comparison would be with the Swaro Z5 line (because the 5 and 6 have the same erector tubes). I prefer the Z5 in this instance with the BT and 4w reticle.
As for the amount of internal adjustment, 33 inches at 100 yards for the 3.5-14 vs 55 inches at 100 for the 2.5-10.