I have two Hensoldts, 3-15 and 4-16, and an S&B 3-20. The 3-15 has a standard mil-dot reticle, the 4-16 has the NH-1, and the S&B has the H2CMR. I've waffled back and forth about which I like best, but have finally come firmly down on the S&B over the Hensoldts. Having said that, the Henny is the easiest scope to get behind of anything I've looked through. Also, I've come to the conclusion that unless I had a compelling need for a larger objective, 50mm is as big as I want.
Here's an earlier comparison between the 3-15 and S&B 3-20 before I had really used the S&B.
http://www.snipershide.com/shooting...s/189791-s-b-3-20x50-vs-hensoldt-3-12x56.html
Since then, I have put the S&B and the 4-16 Henny through their paces. Here's some recent thoughts on both in response to a PM query:
I have determined if I were to choose one, it would be the SB. But, I was recently talking to my friend who just retired from the mil and was a 3rd Group special forces guy and sniper instructor at Ft. Bragg, and his preference would be for the Henny for a competition rifle. So I think it really comes down to personal preference. The difficulty is in getting to play with both prior to buying!
Comparing the two examples I have, and remembering that one of anything does not constitute a valid statistical sample ... The SB edges out the Henny for clarity and resolution. It might be reversed in two other units. The Henny is definitely brighter in low light, but the SB is plenty bright. Roughly equivalent glass at 56mm vs 50mm, makes sense. I like the compact size of the Henny, and the eye box is the most forgiving I've been behind. It's amazing how easy it is to get behind and get a good sight picture. The scope body essentially melts away and gives a very expansive visual impression. No zero stop, but not a big deal for me, since the scope bottoms out less than half a turn past 0. SB has zero stop with two clicks available negative of zero and locking turrets. Some have complained of the ridges on the locking turrets, but I don't know why. Parallax on the SB goes down to 25m vs 50m on the Henny, which I think is useful. I find the parallax easier to adjust quickly and accurately on the SB than the Henny. The Hensoldt adjustment is more subtle and less obvious. Tracking and calibration on both are dead on.
Reticles: I like the overall look of the Henny NH-1, especially when dialed down with the fat bars on the outside. It makes bracketing your target easy and fast. I like the open center with the bottom vertical stadia coming up to the POI. It's easy to aim at very small targets. On the other hand, the mil-bases hash marks are a little unusual in that the size changes indicating .5, 1, 2 and 4 mils. I find it a little easy to get lost in it. But overall, I like it and it has plenty of capability for fine milling.
The SB h2cmr reticle is awesome, especially if you like to dial elevation and hold for wind. The only downside to it is that it becomes too thin at 3x and is hard to pick up. It would be the perfect reticle if it had thick outer lines like the Hensoldt or the P4 reticles. I really like the subtensions. The line is fine enough for sub-moa targets, but not quite as easy for such small targets as the NH-1. The h2cmr is able to have a fine main cross-hair and still have a decent thickness at lower powers because of the increased number of subtensions (.2mil), which look like a thicker line when the power is dialed down.
In the end, I would choose the SB mainly because 1) I like the h2cmr reticle better, 2) the additional magnification is nice to have, and 3-20 is just about the perfect range for a tactical scope. However, to your question, the Henny does not give up much at the long end. At equal magnification settings, the Henny gives the impression visually of higher magnification. Both scopes rock, and I think either will serve you well. Also, the SB USA customer service is great. I had an issue with lash in the erector assembly, and they took care of it painlessly. I just had to wait a little longer than usual because they had a harder time getting the h2cmr erector assembly from Germany than other reticles.
Here are pictures I took this weekend through both scopes set at 16X.
Hensoldt 4-16 @ 16X
S&B 3-20 @16X