I actually like the evolutionary bumps like this one we are seeing in 4.2. A few neat features are added and the stability is made to be rock solid before the next major revision. In the history of Android updates the JIT compiler, hardware acceleration, project butter and Google Now have probably been my favorite features as well as the cosmetic efforts made in the ICS update. We won't talk about Honeycomb though.
As for the device itself, everyone who has handled it, notes that it feels solid in the hand. I love the minimalist design and I really hope that the camera is at the cutting edge of smartphone cameras (808 aside). I'm excited, mostly because this beautiful device is going to save me almost two thousand dollars next year. That, my friends is value.