Thanks for the reply. I had been wondering if interest in this thread had gone 'dead.' I certainly hope not, as I've some more questions that have been touched upon, but at least in my minds eye, aren't quite settled.
Returning to the HI_LUX M40 scope: That's where consumers come in. An 'initial' offering doesn't mean 'final' and I suspect that they will be doing some product tweaking, as they all do. Frankly, this was a market opportunity that Redfield passed-up/passed-over and even Leupold could have embraced- but didn't, at least not entirely. If the scope contours had been maintained, the 'features' in the original optics more stable and/or modernized (over time) and the green anodized finish more available (even from their custom shop,) we wouldn't have originals priced at $5K+. The 'originals,' that are subsequently re-finished in some sort of 'green' in an attempt to get 'the look,' never look quite right, either (well maybe) and still retain the same 'weaknesses' or void a warranty, hardly represent an actual improvement, in practical terms.
On one side we have appearance (esthetics) and on the other 'function and reliability' and it seems that if there is a trade-off to be made, on an initial product offering, I'll settle, initially, for function and reliability. Having a custom firearm that you've put a fair amount of time and effort into (we won't mention money because it's irrelevant to the terminally ill) getting it as close to 'right' as possible, sidelined (literally) by a piece of vintage optics (pc and unrepairable- now there's a combination - it could be anything but the optics are the most vulnerable) will push you in that direction.
I've no dog in the fight. At this price and with the potential (if not already a reality) for a specific competitive match (one of my interests in pursuing this build) I'll give the HI-LUX offering a try. I'm impressed with the acceptance and performance of their 8X USMC SNIPER model and their pricing (v. an original Unertl + mounts) and expect their M40 offering will follow suit. You know, the availability of a suitable scope, in a proper anodized shade of green (under a full warranty,) heretofore unavailable to anyone without a great deal of commitment and disposable cash, may actually direct more shooters towards building an M40 clone than away from it- a good thing I suppose.