What would you choose a Zeis Conquest or Leupold VX-II scope?

Both good brands, see which reticle you prefer. All other things being equal, Zeiss makes superb optics and would be my choice. I use a lot of zeiss optics (microscopes, etc) and they are just the best out there with the excpetion of Leica. I dont think you are going to find a Leica under $400 though... that would be like a Bently for $20K or Rolex for $500.