The Nexus 4 is exactly what we asked for.
Debates about the merits of removable storage, glass backs, and SD card slots aside, the obvious, well-vocalized downside to the Nexus 4 is that it lacks LTE compatibility. That's the dealbreaker to most, including our own J-Tops. But as Deiter Bohn explained, it's clearly just not as simple as including LTE support. If you haven't read it, his article is an excellent read and summarizes this point perfectly. In short, Google would have two options. The first would be to create multiple variants of the 4, to accommodate the different frequencies used by different carriers around the world. This leaves two issues, though. By creating multiple variants, they're fragmenting the platform, something everyone complains about as we all know, and it still wouldn't support Verizon or Sprint in the US, since those are still CDMA carriers, and there's practically no such thing as an unlocked CDMA device.
So that leaves us with option 2, which would be for Google to partner with every LTE-enabled carrier in the US, and create a variant for each one. As Samsung and Apple have shown, this is certainly possible. However, this could lead to as many as five variants of the Nexus 4 (4 main carriers + an international version)--obviously not something that would be good for the unifying Nexus program. In addition to this, Google has already partnered with all but AT&T for the Nexus program in the past, and between slow updates and gimped capabilities, Verizon has proven themselves to be a less-than-ideal partner for the Nexus program, to say the least.
Everyone knew the Nexus 4 was coming, and it was pretty obvious that it would be sold on the Play Store, unlocked and at a great price, because that's how the Galaxy Nexus (GSM) was sold. But despite the fact that the GSM Galaxy Nexus lacked LTE, I think everyone sort of forgot that LTE would be a bridge Google would have to either cross or burn for the Nexus 4. But LTE wasn't our concern. We demanded a device that was not fragmented, given updates by Google with no carrier skin, and was sold open and unlocked at a great price, and that's exactly what we got. Maybe we just take LTE for granted in the US now, but is it really that big of a deal?
Now, personally, I don't see the lack of LTE as a huge negative, for a few reasons. It IS widespread in my area, and I'm totally spoiled by it. I have unlimited LTE on my Nexus, and I use the hell out of. But in the real world, HSPA+ (On T-Mobile, at least) provides speeds that are nearly the same, sometimes better, without the hit on battery life that LTE has. As much as I hate carriers calling HSPA+ "4G", I do think the hate for HSPA+ in general is unwarranted. In fact, Anandtech's Brian Klug tweeted this screenshot of a speedtest he performed on his test unit, getting 25mbps down.
Sure, not everybody has access to (or wants access to) T-Moble's HSPA+ network. But, objectively, is a lack of LTE that serious?
Just food for thought. Is the lack of LTE a dealbreaker for you?