Having been using the Nexus 5 for over a month now, I can declare that this is simply one of the best Android smartphones you can get for your money. It isn't perfect. For example the lack of expansion slot is a bit of a downer. But the most galling example has to be the camera.
Now, the quality of the camera's output isn't that bad if the conditions are right. But it's auto focus mechanism is iffy, especially on low light, and slow. Despite the inclusion of optical stablisation, you get all sorts of jerks. The white balance can also be a bit off, and the exposure compensation doesn't always work. I have had better pictures taken with the 8-megapixel powered no-OIS HTC 8X than with this device.