Yes, the scopeless reticle is always in focus whereas the scoped version is a compromise between image focus and reticle focus.
I haven't tried sighting in the scopeless version but, as seen on Rolaid's videos, it shouldn't be much different than a regular scope. You probably thought the same thing about the M845 too though!
http://www.bhphotovideo.com/c/product/414191-REG/Tamron_13VM20100AS_13VM20100AS_20_100_mm_f_1_6.html
As far as the lens itself, it seems to be good quality for the $$. It has small thumbscrews for the focus, zoom, and shutter aperture that can be tightened down to maintain the settings. The entire lens rotates about 350 degrees (it has a stop point) around the shaft to allow access to the thumbscrews. The rotation doesn't change any settings, but is somewhat annoying when trying to adjust zoom and focus if you don't have the setscrews backed way off.
There's pros and cons to each system. The scopeless version is over a pound lighter, is more compact and would allow for a normal cheek weld with an offset, backup sight system, and always has a crisp reticle.
However, the scopeless is a dedicated system with its own zero, it doesn't seem as durable, won't allow you to change zoom levels without changing your POI, and the focus isn't like a regular scope; ie with a regular scope if you zoom from 3x to 9x, the image remains basically in focus. With the scopeless, zooming between 2x and 6x requires readjusting the zoom on the lens which isn't difficult, but probably not something your going to have time to do with an animal in the crosshairs.
If I'm day or night hunting and something goes down on the scopeless version, my only backup is some type of offset, unmagnified back up sight. With the scoped version, I can quickly remove the whole camera system and be back to my 3x9 scope.
At this point, I think I prefer the scoped version like I have setup on my rifle now, but like you said, its fun to tinker with!! If the lack of zoom isn't an issue, I would considering trying a Vortex or similar 3x magnifier in front of the EJ230 with the crosshairs configured instead of the CCTV lens. It doesn't solve all of the problems, but would be much more robust than the CCTV lenses, wouldn't require the CNC housing, and would actually be less money in the end and could be used for configurations on other rifles with red dots or such. As SkyPup mentioned in some other thread, the lower zoom levels may be preferable, as a 6x zoom does no good if you can't find the animal.
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