In terms of reasonable value and high spec, the Nexus 4 is a very nice bit of kit. Sim free from Google – go on giffgaff or similar and it works out as a good deal.
I’ve had mine a couple of weeks after looking at the S3 mini, One S etc.
Possible downsides – Max 16gb storage, availability (sells out fast when shipments do arrive), large screen (not a problem for me, easily fits in jeans pocket, camelbak etc).
GPS excellent for Strava etc as it also uses russian satellites too and panoramic camera (Google streetview) will be cool for rides. Always on the latest version of Android as updates are released direct.
Big screen does drain battery but mine was at 68% battery left after 15 hours yesterday, mostly idle but a couple of texts and mails, a quick call and some maps. Impressive but a big screen will drain a battery fast.
(Sent from my Nexus 4 😉 )