Having owned both, I'd go with the Moto X. 720p vs 1080p isn't that huge of a leap and the colors are much more vibrant on the X. The battery life is better on the X. Totally subjective, but the in-hand feel on the X is ridiculous. Outside of the HTC One, you don't get much better than it. If you're interested in benchmarks, the Nexus is the way to go. Real-world performance, especially if it's aided by KitKat in the very near future, is not that much different. The camera is better on the 5, although right now I'd probably lean towards the X because of the horrendous shutter lag/focus speed on the 5. It'll get fixed in an update at some point, I'm assuming. The speaker is much better on the Moto X if that concerns you.
It's the software features that set the Moto X apart. Active Notifications and Touchless Controls are both extremely useful. Moto Assist is useful. All these things improve upon stock Android as opposed to tarnish it.