The fact that it has no 4G is a killer. I was about to buy it, but lack of 4G prevented me.
In all seriousness - yes, this is an issue, but with the divergence of 4G spectrums and the radios required to support all of them, it does make sense they don't support it yet. I'm probably gonna get the Nexus 4 anyways, as with my iPhone 4 I have 3G data and it's perfectly adequate. I'm also a heavy (not super heavy) user of data.