They are definitely overpriced, but nice. I've owned two now. One I bought off Ebay when the seller and I came to a price. The second one I finagled a deal on with the purchase of a new spotter. I'm sure I still overpaid for both, but no way I was spending $250. Swaro is certainly proud of their name on that thing.
I don't pack my spotter in pockets or the pack, so at first I liked the added protection. I dislike their objective cap. They are cheap and not very durable. I broke one already, and have came close to forgetting another one at a glassing spot a couple times. I don't use the obj caps anymore, so that's why I still run a case, to protect the objective as well as the eye piece. I could care less about the body, they are tough.