Bought a Nexus, returned it by end of day.
Here is why:
1. Reception, despite the update, is still godaweful. Areas that were rock solid on my old droid (The original, droid #1) flaked like crazy. This is post update. Wow.
2. Call quality was mediocre at best. I don't know how much of this was due to the bad signal but it was just unacceptable. It's a phone. It should do phone stuff first and foremost.
3. This is a showstopper, and is an ICS issue... There is no good way to filter contacts so that it only shows contacts with phone #s. I have 1700 contacts in my google account, mostly people who have emailed me, etc. I have maybe...200 numbers. The option to 'only show contacts with phone #s' is missing in ICS. Which means that you either scroll through all these contacts OR you set up a custom group and set the nexus to just display that group (I called mine 'phone') and then remember to add every new contact with a phone # to that group. If you forget, you have to hunt them down (you DO remember their name, right??) and add them to that group for them to show up in your list. Which, given that I mainly meet people when out partying is just not going to happen, or the girl hits 'done' in my phone when she adds her number and now I gotta go find it the next morning. Yeesh. Totally unacceptable.
The rest was awesome, especially the camera, but as a PHONE it failed horribly. I'm talking total dog**** garbage. But your experience may vary.
So anybody who actually uses their phone as... a phone... should steer far far away. Geeks who like to root it and screw around with apps and other tech gizmo stuff will have a ball as long as they avoid trying to talk to anyone.
Just my 2c. I took it back and got a Razr which works much better (though it has the retarded motorola bloat on it... sigh).
My suggestion: if you really want ICS wait for a different phone. Software can fix the absolutely idiotic contacts issue, but the speaker and antenna quality is godawful and software can only do so much there.