Indeed, the nexus 4 is the first phone ever where I look at the next generation of phones coming after it and go "that it?"
its gonna take a real leap in power demands in software to make the nexus 4 anywhere close to being out of date in terms of cpu/gpu power. There are still good reasons to want to upgrade from the Nexus 4 though... camera, battery life, storage capacity being the main three. Once a new Nexus comes out addressing those sore points, I feel we'll have reached the "core 2" era of android smart phones: good enough to the point that even a 5-6 year old piece of hardware is still good enough (just like how desktops/laptops running core 2 processors are still good enough for 99% of the population these days, 7 years after their introduction).
Agreed. Nexus 4 hardware should last for awhile. I just switched from an Exhibit II and the N4 is leaps and bounds better. Be interested to see what the N5 brings.