waterproof

I have owned and used the 108-768 (aka. Magellan) binocular for about 1 year. They never leave my boat. I like the grippy-light weight body and the focus and forget individual eyepiece's. The internal compass is as stable as most any brand and can be quite handy when taking bearings. The prisms are BaK4 optical glass and help to keep false color to a very low level. They have taken more than a few bumps, both from handling and rough water, but have always came through and asked for more. I am happy with theses binoculars and they are several hundred dollars less than top notch Fuji's or Steiners.
On the critical side, it would not have killed Olympus to multi-coat the optics. Full coatings are good, but multi-coatings make great optics, with all other optical quality being the same. The reflections off water(theses are geared toward marine use) can be a pain and contrast suffers. The flotation strap is a good idea, but you will get tired of the rough nylon covering rubbing on your neck in short order.