I think most of the talk about reception issues on the GNex relate to Verizon CDMA version of the phone. I tried out a GNex on AT&T here - 4.0.4 has a bug that results in 3G connectivity issues - the recently released minor OTA update fixed that. Prior to and after the update, indoors I get 2-3 bars in my house whereas at the same place with my Atrix I get consistent 4 bars. But calls and 3G Data experience is similar on both phones. So unsure if lesser bars on the Nexus mean anything. Outdoors I traveled 700+ miles with it and had no issues with reception - mostly full bars, 1-2 bars in few areas but calls worked fine there.

WiFi - it is not worse or better than any other device in my house, which is to say it works well across considerable range without any drops.

I bought it from Amazon for $643 - but fortunately I was well within the return window so have returned it today for the $399 Google market version.