A high precision, high performance optical system and beam pathway design for laser-based distance measuring, or range-finding, devices includes an etched, or etched and filled, aiming reticle in the image plane which does not require daytime use illumination, and only minimal auxiliary illumination during nighttime operation, thereby conserving available battery power. In a preferred embodiment, a low power consuming back-lit liquid crystal display provides high contrast distance or other operational information to a user superimposed upon a black-appearing field stop thereby further providing operational power savings.