My main concern with this phone is the camera. I currently have a Galaxy S2 and it's video recording seems so much better than the Nexus 4's. Check this video from Techradar: http://www.youtube.com/watch?feature=player_embedded&v=J9f_DAdlRq8
By the way, the whole review is pretty good so those interested in the device should probably take a look at it.
Edit: I hope this is also a due to the pre-release software. When I check the spes in sites like GSMArena, they state that the Nexus 4 can shoot 1080p @ 30fps but the video in Youtube seems much lower.
Ya, the video I have seen from it doesn't look all that great. Definitely not really a step up in camera from my 4S. But I think the Nexus line is starting to not be known for the cameras.