I really don't care much since my GN is working pretty good on 4.02. Sure there are some issues, but you go on ANY forum here for ANY phone and you will read almost the same exact posts there but just about a different phone. It's almost comical. It's a huge gripefest.
I do find it suspect that the Sprint Galaxy Nexus, which is almost identical to the Verizon Galaxy Nexus (both are CDMA and LTE), is shipping with Android 4.0.4 hot out the box. So there goes the whole "CDMA/LTE is the problem" theory. It's also sad that the GSM version was updated over a month ago.
But is the lack of 4.04 really making my life less enjoyable? No. I also am not willing to root because then I loose Google Wallet because I don't think it can be used on rooted devices. So I'm not willing to give up Wallet just to have a shiny "4" at the ed of my version number.
But who knows... maybe Google is still trying to broker a deal with Verizon over Wallet....Maybe that's the holdup.