For hiking purposes, I carry a pair of light-weight (7oz) 7x20 (7 power, 20 mm objective lens) Nikon decent quality binoculars. Somewhere around $100 10 years ago. Maybe similar to
http://www.rei.com/online/store/Pro...75&parent_category_rn=4500468&vcat=REI_SEARCH.
Larger formats (eg 7x35 or 7x50) are just too heavy--I wouldn't carry them on the trail.
General info:
1) Larger objectives lenses gather more light and are useful at low light levels, but do not help in brighter light because the iris in your eye will close down and block out the additional light gathered by the larger lens.
2) Rule of thumb: it is hard to hold anything above about 7 or 8 power steady, so if you are serious about higher powers, you should be thinking about using a tripod.
3) Higher power results in a dimmer viewing field.
4) Binoculars are a precision instrument--the two sides must be aligned accurately or you may get eye strain and headaches from them.
A little story: My brother is a professional ornithologist (bird watcher). We were standing on the shore of a pond looking at some loons--he with his $1000 Leica 7x35s(?) with brightfield optics and me with my little lightweights. (We could both see the loons perfectly well under the daylight conditions.) He was telling me about how much brighter his were than mine and my answer was that they were overkill and too heavy for a non-bird-watching hiker like me. Several years later, he commented to me that his were getting a bit heavy and he was thinking about some lighter weight binocs...
So, my suggestion is that you first ask what you want to do with them. If it is mostly hiking (ie carrying them long distances and only using them occasionally), then get a decent quality pair of lightweights. If it is mostly something like bird watching or marine navigation where you will be carrying them reasonably short distances and using them frequently, particularly in low light situations, get a pair of good quality larger format binoculars--eg 7x35 or 7x50s.
And if weight and size are particular concerns, get a monocular. (No url--REI used to carry a decent 8x21 3oz monocular for ~$30, now just some $140 units.)
When I hike, I usually carry at least my monocular (I consider it part of my navigation gear), but may substitute my light-weight binocs if I think they might be useful.
Doug