That is an interesting perspective. The FOV gain that is offered by the 3-27 is enough of an upgrade for me. If it is optically identical to the S&B 5-25 and tracks as well; it is a winner, especially at the new price.
Hensoldt may be optically nice but the reticle choices are poor and the repair regimen if it ever breaks is nothing I want to be a part of from what I have heard. Plus the cost is ludicrous compared to the S&B 3-27.
Tangent Theta...what does it do that the S&B 5-25 doesn't? Please elaborate as I find it very difficult to believe that it is a true upgrade over the S&B 5-25. I use the same reticle on my Schmidt. The tool less zero seems nice but that isn't worth spending almost the same amount as the S&B 3-27 IMHO. The company is new and unproven. It hasn't been around long enough for me to risk that kind of investment. This being said, I may be wrong as I have never seen a TT. If there are other advantages, let me know.