Flagship Android device, unlocked, without contract, for $299. Impressive. From the marketing video it looks like Android 4.2 gained Swype-like keyboard. It seems that they're no longer using tablet UI, even on Nexus 10 (i.e. it has status bar on top, navigation buttons are in the middle of the screen). That's weird, and I definitely don't like it, but it might not be that big of a problem.
Very impressive pricing! On the other hand, it doesn't support LTE. When will Google realize that basic things like fast network speed are more important than fancy things like face unlock and NFC.
The lack of LTE won't be a dealbreaker for most people, and probably even those who live in the USA. $300 hits the right price point for a flagship phone and the upside of owning a nexus and getting Google's support is huge. I'd rather get an iPhone than an android that is not a Nexus. Both OS are constantly evolving and getting better, waiting for the carriers and OEM to get their shit together is getting old.