> you can't ignore the fact that the N4 is half the price of other phones in its class.
You also can't ignore the fact that in the US other phones in it's class are subsidized by $400 or more, upending this comparison greatly. Yes you're locked into a contract but it's not like Nexus 4 users get some special monthly rate. For some use cases being off contract is a god send, for most though, a subsidized iphone 5 or galaxy s3 is a better option at $100 cheaper (and a higher resale in case you want to break that contract).
You also can't ignore the fact that in the US other phones in it's class are subsidized by $400 or more, upending this comparison greatly. Yes you're locked into a contract but it's not like Nexus 4 users get some special monthly rate. For some use cases being off contract is a god send, for most though, a subsidized iphone 5 or galaxy s3 is a better option at $100 cheaper (and a higher resale in case you want to break that contract).