I now have both Samsung Galaxy Nexus (wife's primary device) and LG Nexus 4 with me, and it's review time.

Samsung Galaxy Nexus

Price Rs. 21,500 - Bought in September 2012
4.65" Super AMOLED, Dual Core Cortex A9 TI OMAP 4460 @1.2Ghz, 1GB RAM, 16GB Flash. Battery is user replaceable and lasts entire day.
Good - Jelly Bean, Display is good, Light and well built. Battery is user replaceable, Feels good in hand.
Bad - Price is still steep. Should've come below 15k by now
Ugly - No MicroSD slot, No FM Radio

LG Nexus 4

Price Rs. 23,500 (In India, <Rs. 18k in USA)- Bought in March 2013
4.7" IPS LCD, Quad Core Cortex A9, QC S4 Pro # 1.5Ghz, 2GB RAM, 8GB Flash. Battery 2100 mAH
Good - Jelly Bean, Smooth as Butter, Quad Core + 2GB RAM at reasonable price
Bad - Display is average. Well built however fragile as both sides is Glass. Camera is average to poor
Ugly - No MicroSD slot, No FM Radio, No user replaceable battery, Recharge every 6-8 hours, Gets very warm so have to keep the device out of my pocket.

Google will be announcing the next Nexus device on May 15th 2013, in two weeks from now. So anybody buying it now should wait for two weeks. New iPhone will also come out in Apple WWDC on 10th June. Samsung Galaxy 4 / Note 3( yet unannounced) are not contenders because of Android skin and price.