I have three Conquests, and have had very good results with them. Image quality is noticeably better to me than my previous Leupolds. In fairness though, my last Leupolds were Vari-X IIIs and an FX-III, not the newer ones.
What I really like better in the Conquest than other scopes I have tried are the very crisp reticles. I believe they are etched as opposed to the Leupolds I have used being wire reticles. The conquest reticles have been very black and crisp for me in all conditions, whereas the Leupold wire reticles, can pick up a copper colored hue in some lighting conditions.
I also like Zeiss' target turrets. They are relatively low profile, positive, audible and repeatable. If your scope doesn't come with them, Zeiss will install them for $80 each. While I haven't used any of the really high dollar optics like Nightforce or S&B, I have not found my conquests w/ target turrets lacking in any shooting I have done with them which includes ranges out to 800 yards. Here's a pic of my 3.5-10 w/ the target turrets.
My latest is a 3-9 that I had Zeiss put their #4 reticle and target turrets on. What a great hunting scope! Reticle is great for close range low light and long distance precision both. When I was zeroing my 3-9 Conquest recently, I was easily able to see .264 bullet holes in my targets at 100 yards with the scope set on 3x. Maybe that's not unusual, I dunno, but I was VERY impressed. I have the 3-9, a 3.5-10, and the 4.5-14, and for a hunting scope I think the 3-9 is the best. The eye box on the 3-9 is more forgiving than the others and the image exceptionally bright. The 3.5-10 and the 4.5-14 are very nice too, but when all are set on the same magnification, not any better than the 3-9. The increased $ are just not justified to my eyes, especially between the 3-9 and 3.5-10. The 3-9 conquest has got to be one of the best bargains out there in a hunting scope.
John