I sent this question to my Swaro rep and he replied:
"The ELs are going to have Swarovision, which includes field flattener lenses, allowing edge to edge clarity when viewing, as well as longer eye relief to make it easier to get behind the binoculars. The closest focusing distance on the ELs is about 5 ft instead of 10, and the ELs offer a better accessories package.
The critical difference between them is the Swarovision."