4.65 isn't that big. Remove some of the bezel on the Droid X and X2 and you got 4.65...not big at all.
As long as the ICS button bar better not be as big as the Honeycomb one. That's just gonna make the screen small as hell.
One thing 127 Hours has taught me; Never forget the Swiss Army Knife, leave the "Cheap Made in China multi-tool" home.
Sorry but Google isn't going to tie the Nexus name to an established product line like the Galaxy line. This phone like all other Google experience devices will be a separate one-off design. I wouldn't bet on any of this "source's" specs being correct except by coincidence or luck.