Conclusion
There are so many important things going on here. This phone will be sold primarily online and unlocked, out of reach of the monopolistic, innovation-stifling carriers. You're free to switch providers as you please, get your updates as soon as they're out, and you can install any apps you want. It's a Nexus, so root will be easily attained, too.
This is also the first phone to combine a real passion for design and materials with high-end components. This is a premium, high quality device in every category. In my opinion, Android's biggest weakness right now is that all the phones just feel so cheap. I really hope other manufacturers take note of the premium feel of the Nexus 4 and step up.
The real mind-blower is that this is unlocked for $350. It feels more expensive than every other high-end phone at half the price. That is completely insane. I think I should just give up reviewing phones now, because I don't see how I will ever be able to hold anything up to this and say "yes, this other phone is competitive." The bar has been raised, everyone. Please don't send me anymore $600 plastic bricks. Compete with this or go home.
Normally a Nexus device is worthy of your consideration just for the software, but this is the first Nexus where the hardware is also a huge selling point. It so thoroughly, completely outclasses every other phone design, it's kind of embarrassing.
The best-looking, best-feeling, most powerful Android phone is a Nexus. How can anyone say no to that? I'm not giving this review unit back until my personal one arrives.