Moto X has a couple nice user-friendly features over the Nexus, better battery life, a better screen IMO, and should have been priced at 350/400 from the beginning. When I used the phone I was very surprised at how smooth everything was and I loved the design, it seemed like a great phone.
Moto X - New Motorola Phones
by Motorola
Here is what we are going to do: Starting at 12 pm EST/9 am PST this Wednesday, we will relaunch the $349 promotion. To help make up for this major inconvenience to shoppers, we will also add an additional promotional day on Monday, December 9. We will double the quantity of phones available, while supplies last, to allow as many people as possible to take advantage of the promotion. We’re also extending the 30% off offer on accessories to these two days.
Source: Motorola Via: Engadget

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