Jay, I think that Cabellas scopes are manufactured by a firm named Asia Optik. They used to make Weatherby Scopes. They make optical glass for several european and asian companies indcluding Nikon, Cannon,Yashica, and Tasco. Thier high dollar stuff is great. Thier cheep stuff is alike anyones cheep stuff. Cheap!
I'll echo on what Danr55 said! I own one of their Alaskan Guide series scopes, it seems to be fine although I havn't used it much! But, I did but there cheaper model for my shotgun (Pine Ridge I think) But, it was a little over a hundred bucks! Anyway, got it, put it on my shotgun, shot 5 rounds and adjusted the elevation 5X the strike of the round never moved! I tapped it I cranked it a good couple of turns!! It never moved the strike of the round! I will say that Cabelas is great for returns though!! They took it back no problem! So I bought a Bushnell trophy!! Works awesome!
I don't have any 1st hand experience with the Cabelas scopes. I did just pick up a Weaver GrandSlam 3-10x40. So far so good, the optics are very clear, it has rated at the top with all the magazines. It sells on lots of websites for $250.
It's really all a matter of preference! From what I have read about the Cabelas guide series scopes they are great scopes for the money! If I were you I'd shop around on some Sites and compare prices! Can't go wrong with a Leupold though! I bought a new Leupold Vari-XIII 4-14X, 50mm Adjustable objective with illuminated reticle for 570.00!!! Cabelas had the exact scope for 699.00! I bought it at the big outdoor show in PA! You can get some great deals on scopes at shows especially the last day or two! If you have a certain power in mind look at a vari-XII in the leupold! You can go about anywhere and get a great deal on them! Scopes are a hard choice! I go through what your doing everytime I buy one! Another scope I would seriously consider is the bushnell elite series with rainguard! They have a coating so they are much less prone to fogging! It's kind of like rain-X on the lenses!
The new VXII line from Leupold is an upgrade over the previous VariXII line (which is now basically the VXI line as I understand it). They can be had for under $300, and the reviews have been great. One writer I saw said that he can see no almost difference in optical quality as compared to the VXIII.
They also now have click adjustments that you can feel. Bak4 coatings also. I have a 2x7 and love it.