Sockmonkey, I have both the Nexus 4 and the latest iPod Touch, and if you only need a media player, I would recommend the iPod Touch over the Nexus 4, because the Nexus 4 battery is attrocious, and the device is much bulkier and heavier than the iPod Touch.
The next gen iPod T is right around the corner, if Apple releases an upgrade this fall, so the price on the current one may drop or an even better one may go on sale soon.
Obviously, if you'd be popping in a SIM card and using the Nexus 4 as a phone, the above statements are irrelevant.
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