Nexus 4 is the best phone (IMO of course) in its price range. The performance specs will make the phone relevant for a very long time.
Only thing for me, as it is for others, is storage. I love to cache maps when I travel, and have movies stored for long flights. Games will tend to use 500mb a piece as well. Turn-by-turn nav programs hog lots of space too. I like to have lots of pictures on there. I also use it as a mass storage device to transfer multimedia projects from home to work. My 16GB GN2 has already complained a few times that my onboard storage is low. I have owned it for about a month.
16GB does not cut it for my needs, and this is not including any music at all. If I relied on 'the cloud' I would go through 6GB fairly quickly. I hate having to rely on network connectivity for important stuff like maps too...you are bound to lose connectivity when you want it the most.
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