ELs are all fluoride HD glass, whereas only the 42mm SLC is HD glass.
The new ELs have what they call "field flattening" lenses to increase sharpness and reduce distortion at the edges of the binoculars field of view.
Some people don't like the field flattening lenses and so the SLC 42 HD is effectively a comparable product competing with Leica HD. I imagine that the other SLCs will be upgraded to HD glass in due course.
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