The Rifleman line has always been Leupold's bottom of the line. Basically - it is no better than a Bushnell Trophy or Branner except for their wonderful warranty. Rifleman's usually go for around $180 or so. At that price, you are getting an $80 scope and paying an extra $100 for the warranty. I'd rather spend $100 more and move up to the VX-1.
They are bottom of the Leupold line, but they are light years ahead of the Bushnell junk in terms of low light, durability and tracking. I have had years of experience with a couple and the Bushell does not compare. For what they cost, they are a reasonable value.