Best glass for the money, hands down...
Other scopes in it's price class include the swarovski and the high end zeiss. Nightforces are way better than both. Of course, USO is probably the best, but they're $2500 with all the bells and whistles.
They are nearly indestructable, but the negative side of that is they weigh a ton. You don't want one on a carry type of rifle.
I've got a 5.5-22x56 and a 8-32x56, love them both. The 8-32 is hard to beat for a dedicated LONG range hunting rig, the 5.5-22 is probably better for an all-arounder.
The 12-42 does lose some optical quality when you go past 35x or so, and for that reason I wouldn't have one.
Save your pennies, but there are good deals to be had out there. One just sold yesterday on the 'hide (5.5-22) for $1150 shipped.