Put this one in the "deal alert with reservations" basket, but if you're really keen on getting a Nexus 5 at a potentially steep discount (and don't mind waiting for it), you may want to take advantage of Dailysteals' current eBay deal for the handset.
They're selling 32GB Nexus 5s - in white or black - for just $394 shipped, and with sales tax applied only in New York and New Jersey. If you're a CA resident like me, that nets you nearly $50 in savings compared to buying from the Play Store, which won't even ship your phone until the second week of December anyway.
The downside, though, is that you're dealing with Dailysteals. They have notoriously slow shipping, and don't have a great reputation when it comes to handling returns, or customer service in general. But hey, if a few weeks from now a brand-new Nexus 5 lands on your doorstep $50 cheaper than it would have been otherwise, are you going to complain?