The VX-I and VX-II scopes were both updated in early 2012 because they were very long in the tooth and had fallen far behind the competition. The updated versions are now called the VX-1 and the VX-2. The current VX-2 is much improved over the VX-II that was sold up until 2012. The technology that's built into the Rifleman simply doesn't allow it to perform as well as the new VX-2. It's just not possible.
Also, the Vari-X II, Vari-X III and VX-III are obsolete scopes that are no longer made. Leupold hasn't made a Vari-X anything in a long time.
I have noticed that the older Vari-X line of Leupold scopes have a nostalgia about them with older hunters. Apparently they were the bees knees back in the day and had a reputation for toughness and reliability. However, optically and mechanically they are pretty inferior to the current versions from Leupold which incorporate several technology improvements that have been developed over the years. Some people will stay pay a pretty good price for old Vari-X scopes, though. I guess it's the nostalgia factor.
The old Vari-X II was improved over a decade ago and renamed the VX-II. The VX-II was improved in 2012 and renamed the VX-2.