I haven't read this entire thread, but I thought I share my thoughts on my 5-25 in case it helps anyone.
I bought the 5-25 non-illuminated with the Tremor3 reticle. This was a leap of faith for me, as I didn't know if I'd like the reticle and I've always thrown shade on Leupold for overpriced products with mismatched turret/reticle offerings, but two seconds after looking through it at Mile High and comparing it to some others I decided it was worth a shot.
The scope feels light for its size. It's quite long with the sunshade. The flip-up caps are very cheap and thin but seem to be working just fine.
The elevation turret is amazing. Some hate the 10.5 mils/rev but I don't mind as I've got it on a 6mm Creedmoor and would rarely need a 2nd revolution let alone a third. Compared to my Steiner T5xi, Burris XTR II, Vortex PST II or Razor HD gen II, the zeroing process is stupid simple. Love it. Clicks are solid without being stiff and tracking has been spot on.
The windage turret is an abomination. The mark for what setting it's on is at some kind of 45 or 60 degree rotation up the curvature of the dial, making it impossible (for me at least) to have any idea what setting its on. I zero it by leveling out the logo on the side, then I just hold for wind using the reticle. Utter junk IMHO.
Being a 35mm tube, it's got tons of elevation adjustment. I have something like 29 mils of usable adjustment with my zero. Nice! Way more than I need for a 6mm.
The glass in my copy is fantastic. It easily matches my K525i, S&B PMII. Almost unnoticeable CA and it's bright and sharp all the way to 25. This is stellar glass for the price.
The Tremor3 reticle ... I guess I have mixed feelings. I love the floating dot, and after learning the wind holds I've found them to be worthwhile in competition settings. But, it's all a bit busy. I have to really concentrate to keep track of which mark is my aiming point and tune out the rest of the reticle noise. I tend to dial elevation more than using the full reticle functionality, but I'm confident in the reticle if and when I choose to hold for both elevation and windage.
Overall, I'd give this model a 75% rating and I'd recommend it for anyone who holds for wind. A simpler reticle would improve the score, as would a proper windage turret marking system. The glass, elevation travel, and elevation turret make this a really solid scope for the money, as long as you can rationalize away the flaws.
For anyone wanting an illuminated reticle, I think they charge an obscene amount and I'd probably not recommend this scope if that's a major criteria for you.