Notably, not everyone saw the offending page when they went to the Play Store, but only "some folks." As of later Thursday evening, Google had plugged the hole, though.
THe $349 price is interesting, and is bound to attract customers, as it matches the Nexus 4's price from last year, and Google was applauded for releasing a high-spec smartphone off-contract and unlocked for that price. The Nexus 4 was also sold in an 8GB storage tier for $299, but it's unclear if the Nexus 5 will follow suit.
The only negative to the Nexus 4 is that the device did not support LTE (it did support HSPA+), but the Nexus 5 is expected to support the newer 4G standard.
Numerous leaks, including a purported service manual, have revealed rumored specs to the public. The Nexus 5 will have a 4.95-inch 1080p display, a Qualcomm Snapdragon 800 SoC running at 2.3GHz, LTE, an 8MP rear-facing camera, and a maximum storage capacity of 32GB. The phone will launch with Android 4.4 (KitKat), and it will be the first phone to ship with the latest edition of Google's mobile platform.
If it sounds a lot like the LG G2, it's because the Nexus 5 will be built by LG and reportedly be based on the G2. In 2012, LG built the Nexus 4, and based the design on the LG Optimus G.
Google's Nexus devices run stock Android. The company has been highly subsidizing them, both in tablet and smartphone form. There is currently no word on an official launch date, but the latest rumors point to the week of Halloween, perhaps Oct. 28 or 31. The Nexus 5 is expected to launch alongside Android 4.4 and the Nexus 10 (2013 edition).