Well, the HD thing is pretty much marketing, as several different Vortex Binoculars aren't even made in the same OEM facility.
The older Razors were really pretty nice. I had a 8X42 model, and it had an extraordinarily deep depth of field. I would buy a pair for $350 if I could find that deal.
The newer Razor HD is a totally different optical design. I saw them, and thought they had a nice image, but I see Vortex has redesigned them again, after only one model year.
$1200 can get you a really nice binocular. I like several Vortex products, but for $1200, you can find a set of used/demo Swarovski SLC neus, or save some money and get the excellent Meopta Meostar. The Cabelas Euro HD is the newest version of the Meopta Meostar (with Cabelas badging), and by all accounts is outstanding glass.
The sweet spot for value in the Vortex line is the Talon HD at around $450, which is an excellent performing binocular. It is a spec binocular from a major Chinese OEM and similar models have been successful under a variety of brand names (including Zen Ray, Promaster, Hawke, etc.) I have the Zen Ray ED2 version of the design, and it is a great glass. Zen Ray worked with the OEM on this design, and offer a very nice refined version called the ED3. It is definitely worth a look.
Any of these will handily beat the Monarchs, especially in field of view.