yeah in person it looks SO much better. pictures don't do it justice and its one of the nicer looking phones I've seen.
today I was taking video/pictures of my son playing basketball. no smartphone camera takes good pics of 10 year old running around while zooming in, but even when he was somewhat still, lack of OIS is definitely it's achilles heel. I assume they had their heart set on keeping the phone priced under $500 and that just didn't make the cut. I would've gladly paid the extra $50 for it, but surprisingly Google chose to make it more of a consumer friendly device (with their commercials during football/baseball playoffs) so I understand the importance of pricing, which is never easy (just ask BlackBerry)!
This was their best Nexus by far though, and hopefully next year they'll continue to improve. Battery and camera have always been pretty awful on every Nexus, and there were always several features we'd have to sacrifice for stock/updates. This year we didn't have to give anything up, but I've yet to find a perfect phone. For whatever reason there's always something that every OEM omits or does poorly. Just so happens this year for the Nexus it was OIS (and volume button placement).