Stand-by power consumption does look better (i.e. lower) than the Nexus 4's. Still not liking Google Services/searches that seem to run all the time, even though there is nothing to search and I did not request any service. I will keep investigating.
Witn the N5 and Kitkat, legibility of the stock settings and options improved dramatically. I can read from farther away. A good job there. I like the camera and it is more than good enough for myself but I suspect that it will not satisfy aficionados.
The speaker is currently my biggest concern along with the battery which I cannot yet render a verdict on. I am experiencing muffled sound at low volume and its occurrence is not completely predictable. Sometimes it seems positional thing and sometimes not. Although on a second thought, I rarely use a phone's speaker for prolonged period of time and maybe I should give this a pass.
Call quality seems good enough for me. Better than the N4's, for certain.