Well, I hate to admit this but I dropped my Nexus 4 as I was unpacking it, however it did not sustain any damage as far as I can tell.
I got the package from UPS, opened it, and removed the N4 box. I set it down on the counter in my kitchen, and apparently wasn't paying attention (which is unusual because I am always very cautious when it comes to new electronics), as it fell off the counter and hit the floor. I FREAKED out, but fortunately, the fact that it was still in the box seemed to save it. There wasn't even really much of a mark on the box, and there was no visible damage to the phone. I booted it up and it has been running find the last few days (except for an unrelated data speed issue) I can't imagine those hard cardboard boxes providing much protection, but it seemed to save the day.
I suppose I got lucky, and I know this sounds awfully weird and paranoid, but I tend to be somewhat obsessive with things like this, and I still keep thinking about that moment I dropped the phone. Even though it works fine I still can't help but feel as though I ruined the moment at best, and at worst there's still something waiting to go wrong. Silly, I know, but I'm sure I will get over it. I absolutely love this phone though, and am excited to finally have an Android device!
So this is at least one story of a dropped N4 that didn't result in total disaster.