I thought maybe I wouldn't participate in this thread, but oh well...
The Leica 8x32 Ultra/Trinovid BA/BN is certainly one of the best (birding) binoculars ever produced. It is my overall favorite 2/3 sized birding binocular ever (after disqualifying the 8x32 Ultravid as too new to judge and the Swarovski 8x32 EL for not being a true mid-sized binocular). For a long time, it stood alone as the only no compromise 8x32 roof-prism birding binocular, and so for me was the obvious choice as a travel binocular. Perhaps it is just because our decade of great birding together, but even today I have more confidence in my 8x32 BA than any of my other binoculars. For me, it combines perfect size, weight, and focus speed/precision, with beautiful build quality and superb durability (I dare say mine look as good as new despite much use in harsh conditions). I also like the ocular guard (the only one that I do like) and the minimalist leather case, both of which contribute to its perfection as a compact/travel bino. I never liked the other Ultra/Trinovids--they were too clunky and heavy, and had poor close-focus (especially in the BA versions). Optically, the 8x32 BA/BN is a standout for its enormous sweet spot and lack of aberrations (just a bit of field curvature). I find it more comfortable on the eyes/brain overall than the Zeiss 8x32 (an awesome optic, but one which doesn't perform unless eye alignment is perfect) and at least as good as the other top-end 8x32. For whatever reason, every time I look through it I think "wow, that's sharp!" in a way that I don't with any other 8x32 except the Nikon Superior E even though I've not found any measureable advantage over my Swarovski EL or Zeiss FL. Contrast and flare resistance are better than any 8x32 or 8x42 I've tested except the current top-end crop from L, Z, S and N, and in these respects I consider it their equal or near equal. I bought mine new in 1998 for $700--sure wish top-end 8x32 models still sold for that! Some might point out that $700 was worth more in 1998, but since my income is essentially equal in actual dollars to what I earned back then, I don't find those arguments very interesting.
What are my 8x32 BA's weakest points? Optically, the BA is definitely not as bright as the latest 8x32 offerings, and in my unit the color balance is slightly biased toward green--enough so that it is easily noticed if conscious thought is directed to color balance (This bias may have been corrected in later BA or in the BN with unannounced coating improvements because I seem to be the only person who ever comments on it). It also certainly has more chromatic aberration than the 8x32 FL, which makes the latter better, for example, for identifying distant birds in flight against a bright sky. And as a butterfly watcher, the close focus is not as good as I'd like. Surprisingly, eye-relief has not been a problem for me. I'm a glasses wearer who usually prefers 18 mm, but somehow the 8x32 Leica has always worked fine with its ~14 mm.
I don't mourn the discontinuation of 8x32 BN production because I like the Ultravid version just as much. It has all the optical properties that I like in its predecessor--NOTHING has been sacrificed--but with much improved brightness and color neutrality. Despite my big hands and its even smaller than BN design, I find the Ultravid a perfect fit. Like the BN and EL, it allows me a nice, secure, wrap-around grip, snug against my palms and deep in my fist. If the Ultravid turns out to be as durable as the BA/BN it will supplant it in my ranking as the best 2/3 sized birding binocular ever. I've don't doubt that the chassis is just as good, but I'm not so sure about the armor, or especially the Ultravid eyecups.
As for ED/HD/FL glass and marketing BS, I've no doubt that the marketing folks at the optics companies tout whatever they can, but if you don't think that lowered CA in 8x32 design (whether due to special glass or some other design aspect--I won't pretend to know what really makes the difference) makes a significant difference in the view that is of practical importance, then I can't believe that you've compared a low CA 8x32 like the Zeiss FL or Nikon SE to their high CA counterparts like the Swarovski EL, Leica Ultravid, and Nikon LXL. After using the Zeiss FL for several days in a row, if I pick up one of the others and put it to my eyes, the CA is horrific (can't help but notice it) until my brain has some time to adjust. I haven't tested the new HD Leica yet to know how they perform.
--AP