The Conquest is not offered with an illuminated reticle. If you are referring to the Conquest DL, however, I have had both it and the earlier Duralyt versions in both 2-8x42 and 3-12x50.
The dot is small, unobtrusive and can be adjusted so dimly that it does not adversely affect your vision in poor lighting. Many have said that the Leupold VX-6 is virtually on par with the Swaro Z3, with the Z3 edging it out slightly during the final moments of shooting light.
My Duralyts and DLs edged out the Z3 and in fact are closer to the Diavari Victory than the original Conquest in terms of optical performance and are a step ahead of the Conquest HD5 as well.