The 4-12x is a very old Leupold design. Unless it has been updated it only has about 46moa of total elevation range. This means something like 20moa remaining if you zero at 100yds. Not much.
People keep buying them though.
That's because for the use most put them to, it's enough.
Mine is actually a 1-series, circa 2005, with friction adjustments and no A.O.
It's been solid so far, having been mounted on a few .308s, a .204, and now a .223. Stays dialed in. Like someone else noted, if the eye relief is set to be good at 4x, generally you'll have time to crawl the stock for longer shots at high-power.
If it turned to dust tomorrow, I'd feel like I'd gotten my money's worth, but of course Leupold would replace it.
