For bang-for-your-buck performance, you might look at Vortex. I've been using the Diamondback 10x42mm (now called Classic) for about 8 years now, and have been completely satisfied with their low light performance and clarity. They weigh in around 25 oz. and retail around $225-$275 I think. Vortex has a few offerings in truly compact binocs as well.
If you can afford around $550 or so, I'd look at their Viper line.
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