It won't be long now before the great unveiling of the next generation Nexus device, and as usual the leaks and rumors are at full speed trying to put together the pieces of the puzzle that make up one of the most highly anticipated devices of the year. Of course, we'll find out all of the details for sure in just a couple of weeks (presumably) but that doesn't stop us from setting up our expectations ahead of time and considering all of the rumors that are swirling about anyway.

There is plenty to be said about the Nexus 5 already when it comes to leaks and rumors. So far we've heard that it will have a 5-inch 441 PPI display, a 2.3 GHz Snapdragon 800 processor, 2GB of RAM, 8-megapixel camera (the same on in the Nexus 4) and bigger storage options, starting at 16GB of memory. Sounds like a pretty great device overall, especially considering the only thing that would stay the same would be the camera if these rumors turn out to be true. But by being a device with the Nexus brand name on it, there is one major aspect of the device that we definitely don't know about, and that's pricing. With the Nexus 4 selling for such a cheap price last year, there's no doubt in my mind that people are hoping to see the Nexus 5 priced the same, or at least similarly, to last year's Nexus. In fact, rumors are stating that it very well might be priced at $299.

I would be lying if I said that I wasn't also hoping for the same price tag on the Nexus 5, but I think that realistically it would be hoping for too much. After all, after Google released the Nexus 7 they upped the price $50 from what the tablet was priced at last year, and all that happened was the specs were boosted a little bit. It was a revamped Nexus 7, and maybe Google is trying to make a profit with their devices this year. I would love to see a Nexus 7 priced at $299, but I think more realistically we will be looking at a starting price of $349 or $399 if the specs match up to the rumors. The $299 price on the Nexus 4 definitely set a high bar for what we want to see with the Nexus 5, but I would honestly be surprised if we were to see that price again.

That's not to say that $399 isn't a fair price for a device. Even nearly $400 is still a pretty good discount considering most flagship phones are priced around $600 or more these days, so $200 off still isn't a bad deal. If the specs match up to the phone, then I could say that I think $400 would be a fair price for the device. I would still probably buy one, but I think $400 is the highest that I would pay for it.

And suddenly I realized that Google has spoiled me with the Nexus.

I remember when the Galaxy Nexus came out for the Play Store for $399, and that was a steal. Honestly, I thought things wouldn't get better than that. When the Nexus 4 came out for $299, I was pretty much blown away by the price. However, the price was offset by availability - if you weren't on that sale like gravy on biscuits, you didn't have a chance to get the Nexus 4 for weeks. So since we've gone from $399, which was already a pretty radical price, down to $299, what's going to happen if the price goes back up to $399? Will people still be interested, or will they feel let down considering that last year's version already set the bar pretty high?

In the end, I think that $399 still sounds pretty good for a Nexus 5. I would be pleased (and surprised) if it ended up being released for $299, but by setting my expectations higher I feel like I'm doing myself a favor by not setting myself up for total failure. If they could actually just meet the price halfway in the middle at $349, I honestly think that they would still be able to reel a bunch of people in to buy it. If people can justify spending $299 on a device, they'll probably be able to justify spending $349, but that's just my two cents.

If the rumors are true about the device, how much would you pay for a Nexus 5, readers? Are you holding out for the Nexus 5 to be your next device? Let us know your thoughts in the comments below!

Images via Android Pit, Yahoo!