Currently the man portable rangefinder item provides a maximum magnification of 75x (with 1x being default soldier view). This is excessively powerful for a small hand held device.
They are currently the second most powerful optics in the game, behind the gunners view in mobile artillery. For reference, binoculars give 16x zoom, and the gunner in main battle tanks get about 27x maginfication (less than half the zoom of the man portable version).
Having looked around the net, the maximum magnification available in real world hand portable rangefinders is 7x, although this does not fairly compare 1:1 with Arma magnifications due to the relatively low visual acuity provided by current monitors (my calculations give 3.5x magnification in Arma is approximately equal to 20:20 visual acuity)