Nexus 4 - Buy now or wait?

The Nexus 4 just received a big price drop yesterday which makes it a very tempting buy. However, since it is already a year old and the speculated launch of the next Nexus is just around the corner, does it still make sense to buy it?

Edit: That's for all the feedback! And I have another question: How does the Nexus 4 compare against the Moto X?