Hi there Jim....
I'll try to answer the best I can in the order asked:
1. For the past few years after experience with Leupold's target knobs, and specifically their VX-3 scopes with the 30mm maintube, I've come to the conclusion that for what I do, I greatly prefer using their M1 elevation adjustment, and leave the 'standard' low profile windage adjustment as-is on these scopes (the standard 'target' knobs are too high, and the windage knob really sticks out there making carrying the rifle more difficult in the field). With the additon of the VHR, it gives me the best of both worlds; "dial-a-rat" (using my come-up charts on the scope flip cover for precise first shot hit probability), and for fast action, using the VHR as it was indended.
The thing I don't like about the standard low profile elevation adjustment, is you can't see the numbers from the shooting position without dismounting the gun. You can't dial precisely with them this way when bench shooting.
This photo shows my Kimber Varmint 204 with a Leupold VX-3, 4.5-14X, w/40mm objective and their excellent M1 (as used on their Mark-4 scopes) elevation adjustment. This allows me to see the numbers easily marked in .25 MOA, and is also fairly low profile compared to the regular target knobs.
2. The primary use of the above rifle with the 4.5-14X is for 'walkabout squirrels' with coyotes thrown in also. All my dedicated bench rifles for squirrels or PD's have 6.5-20X scopes, as the extra magnification for the longer shots really pays off, especially when the mirage allows as in the morning prior to the heat build up in the afternoon.
For a coyote rifle consideration of either of the scopes you are considering, I'd go 4.5-14X, for bench or bipod squirrels., If you have a sporter weight barrel, I'd go with the lower power for coyotes. My Kimber shown has what they call a "heavy sporter" barrel. It's really not intended for prolonged bench, high volume shooting, but sort of a compromise bench/walkabout rifle, and that's why I chose the lower power at the low end of the scale. During the day when shooting Skippy with my bench guns, I find myself using 14X alot anyway because of mirage, so you may just want to consider that and go with the lighter, shorter 4.5-14X, as it will probably serve you quite well, especially for coyotes with squirrels thrown in occasionally.
For coyotes, the 4.5X at the low end is about right.
