Both are great devices and everyone here has made great points. If the camera is super important to you, I agree that OIS makes up for lower megapixels.
The other thing to consider is definitely size of the device. As someone already stated, go pick up the display at a store and play with it.
I'm a Note 4 user and, while it seemed huge (but easily manageable) when I first got it, I was looking at it last night and realized it doesn't look that gigantic to me anymore (same thing happened when I upgraded from a 30-some" TV to a 60"). Your results may vary though. I've got pretty big hands and my fingers are longer than just about everyone I know by at least a knuckle, so I'm pretty much made for a the larger screened devices.
If we were talking one of the old Droid phones vs a nexus, I'd recommend the nexus, but as others have also said in this thread, Moto has SERIOUSLY tamed down their skinning of android, so you're getting a fairly vanilla version as well.
So, to be almost as redundant as possible, check out each device in the store and that might help seal the deal for you. When I ordered the Note 4, I went to my vzw store and played with a Note 3, knowing it was going to be around that size vs my s4.
Also, keep in mind, if you get the phone from vzw itself, you've got 14 days to decide if you made the right choice. That will ultimately be your greatest ally if you have a really hard time deciding between the two.
In any case, good luck and let us know what you end up getting!