Here's an update with my time with the N5:
The camera is inconsistent. I'll either get really nice shots, or really awful, blurry shots. It's also slow - as most reports report. The good news is that, logically, if it has the ability to take nice, crisp, detailed shots that a software update could fix a lot wrong with the camera. And given that Google made a commercial touting the N5's camera, they better up their game. Throw some $$ at it, Google.
The battery life is ok, so far. Not great. I have battery guru on, learning...so hopefully it'll improve. Most of the time I'm a moderate user, but i'd invest in one of those external battery pack chargers if I was traveling.
The Kitkat looks great. It's definitely a refinement that Apple should take note. Not the janking android apps, but the Google and other quality designed apps and the launcher. It's clean. It's minimalist. It's much more grown up. The color palate isn't as loud as IO7, or cartoony as touchwiz, and I really, really thank Google for that. It's not totally complete, but it's getting better all the time.
Somewhere I read an oped piece about how Google's design cues will eclipse Apple's attempts at cloud services, and I think that oped was totally correct. They've got the services locked down. They just need to refine they're UI, which they've really been doing.
Again, for $350, you cannot do better.