Got my Nexus 4 on Friday. Have spent most of the weekend playing with it and tweaking it the fuck out. So far, I like it a TON more than the iPhone 5. It really does feel like the Windows version of the Windows vs. Mac OS divide. More customizable, more control, more like my own device and not just something I'm leasing from Apple while waiting for the next version to come out. Widgets are great (like Live Tiles on steroids) and Spotify/Facebook integration are perfect. I'm cleaning up my local MP3 library for when Google Play adds free matching to the US (live now in EU and Canada now, coming to the US). And since a lot of my phone use is maps, web browsing, and reading Kindle books while at the gym, the 4" screen is really a huge upgrade.
I installed Nova Launcher to get more control over icon layout, screen transitions, etc. Would definitely recommend that to any Android 4.x users.
Basically, despite all the doom-and-gloom from Apple fanbois, I'm not missing everything I thought I'd like, I love; everything I was worried I'd hate, isn't that big a deal.
My biggest issue right now is no way to tap the top of the screen in a web browser to jump back to the top. :( That, and my stupid iPhone owning friends who keep sending me non-iMessage SMSes and running up my bill.
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I still love my iPad and would never get a Nexus 7. :shh