Bruce
I've never used any of the H2O's, but the Legends were Bushnell's premium porros for many years until being discontinued a couple of years ago. Unlike the H2o's, the Legends are fully muticoated, have the Rainguard lens coating, and have twist up eyecups. I also have the 8x42 model which I have always felt was one of the best of the 8x42's around. Focus knobs are a little stiff as are most waterproof porros, but the brightness, resolution and contrast are simply outstanding for porros at the price point.
I suspect Bushnell dropped them due to the high manufacturing costs, and at the price point they were forced to sell them at, were probably slow movers due to the plethora of cheaper roofs.
Tom