Terrible screen on my Nexus 4

I've just received my Nexus 4 (16Gb), and I'm very disappointed with the display.

First thing I've noticed when I turned it on are two points where the backlight leaks inside the screen:

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they are clearly visible on all brightness levels, except on the lowest.

After that, I tried watching an episode of Arrow, and discovered that there is color inversion at some angles, something that doesn't happen with IPS displays. (It doesn't happen on my Dell 3011, iPhone 4, etc.)

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In the tech specs page for the Nexus 4 Google says that they use an IPS display, but I'm fairly certain that the screen on my Nexus is not an IPS LCD, given the color inversion and general color quality.

So... is this normal? Has anybody else experienced any of these problems? What should I do about them?