* Size: 4.9" screen
* Resolution: 1080p (it's really hard to find any phones this size with this resolution, which is disappointing because the PPI is possible, especially given the quad HD resolutions being slapped on phones now).
* SD expansion slot: One thing I really liked about the Note 2 that the Nexus phones don't have. I could upgrade with a 64G SD card which didn't cost much. 32G can fill up pretty quickly with videos and photos and it's annoying Google has a philosophy which shuns SD cards.
* Battery: At least 2600mAmp (should last at least one day).
* Stock android: No bloatware and no touch-wiz. This isn't as important as the other considerations though.
* CPU: This doesn't matter too much to me. 99% of what I do doesn't need a latest generation processor
* Memory: 2G is fine. Memory again isn't the main thing that's bothering me about the current android offerings.
What really bothers me is no-one is catering to this market segment and the trend is increasingly into the phablet market.