http://www.theverge.com/2012/10/29/3570034/inside-android-building-the-nexus-4-nexus-10-android-4-2
The accompanying article to that Verge hands-on and visit to the Google building video just makes me like the fellas at Google even more.
They seem humbling, modest, admitting their failures; it's really so much more palpable and relatable. I can't get over how disingenuous Tim Cook and Phil Schiller can sound. I can still hear Cook's exaggerated enthusiasm... "This is really jaw-dropping stuff" and it makes me cringe.
Anyway, I highly recommend reading through the article. Here's the portion regarding LTE:
"For now we're gonna sit back and watch those networks evolve. Two radios in a device right now certainly raises the cost, and diminishes battery life." This point seems to frustrate him. "When we did the Galaxy Nexus with LTE we had to do just that, and it just wasn't a great user experience. It's possible to do it right, but that's not where we'll put our resources initially. Tactically, we want to make sure the devices are available for every network on the planet."
The sentiment makes some sense. The global subscriber base of LTE users is still tiny, even with a massive uptick in the US over the past year.