My predictions/speculation for the LG Nexus.
To start, there will be an 8 GB and 16 GB version available at launch starting in November with pentaband GSM radios (but no LTE). It will start at $399 for 8 GB and $450 for 16 GB on the Play Store unlocked.
US Carrier variants will be announced in the coming months which include LTE capability. One or two carriers will have exclusivity on a 32 GB version.
Three to six months after initial release, the 8 GB version will be phased out and will replaced with 16 GB. The high end will be replaced with 32 GB. Prices will remain the same.
Although I'm just pulling this out of my behind, I'm basing this on a couple of ideas and factors:
1) It would be an egregious error on Google's part to completely skip a LTE capable Nexus. If the goal now for the Nexus devices is to grow consumer mind-share, as evident in Nexus 7 TV commercials, LTE is a necessary feature as nearly every new flagship handset has it as a selling point. Consumers are expecting it in their devices now, especially now that the iPhone 5 has it.
2) I get a strong feeling that down the road the LG Nexus will include a 32 GB version but not at launch nor even on the Play Store. Given some strong rumors that the Nexus 7 will be slightly upgraded to 32 GB, signaling a potential phase out of 8 GB of storage. Carriers negotiation may call for higher storage in a LG nexus as part of exclusivity feature...much how like VZW GNex has 32 GB at launch.
Then again, I'll more than likely be completely wrong!