Starts at $350 off-contract.
SpecsUpdate
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Pros
Pro Sleek design with solid build quality
The Nexus 5 has great build quality and a nice overall look and feel. The rear of the device is built from a soft touch matte plastic. The design is conservative but attractive with the brand Nexus embossed on the rear.
Pro Great performance
The Nexus 5 has a Snapdragon 800 2.26Ghz quad-core processor, Adreno 330 GPU and 2GB of RAM. It's snappy to use and benchmarks show it has fantastic overall performance.
Pro Multi-band LTE support
The Nexus 5 supports LTE on the following bands: 1/2/4/5/17/19/25/26/41. This means it will support LTE on pretty much all major carriers worldwide.
Pro Clear 4.95" 1080p display
The phone has a 4.95" 1920x1080 IPS display with 445 ppi surrounded by very small bezels. It's sharp, has great color accuracy and good viewing angles.
Pro Good 8MP rear-facing camera
Nexus 5 has a 8MP rear-facing camera with optical image stabilization and is capable of taking HDR photos.
Pro Great value for money
Traditionally the top-end phones command at least $700USD+ to buy off-contract, at $350 unlocked the Nexus 5 is fantastic value for money.
Pro Pure Android experience
Nexus 5 comes with the latest stock Android. There are no OEM reskins or carrier bloatware to change the way the device is used or slow it down.
Pro Priority support from Google
As this is a stock Android device and a flagship Google phone, it receives priority support for updates and any new functionality developed by Google.
Cons
Con No microSD card slot
Con Poor battery life
N5 has a 2300 mAh battery that according to Phonearena drains in under 5 hours of typical use. A large contributing factor is the Snapdragon 800 chip that's not as power efficient as later models.