Now that I've decided to switch, I want to get either the Nexus 5 or the Moto X. Probably the Nexus because I like the larger screen. Would it be okay to get one now or should I wait for the new one? I'm not real in tune with Android rumors and new phone release cycles and whatnot
Google is likely in the process of discontinuing the nexus system in favor of something else that is similar. Rumors indicate that the replacement Android Silver Device program won't be in place until the new year. Not much is known about it so its mostly speculation.
The Moto x+1 on the other hand will definitely be arriving soon.