But, a bug fix is a bug fix, so there likely isn't anything major in it. The biggest fix that is rumored is a fix to the camera focus, which is definitely an issue on Nexus devices and the Moto X. The other reported bug fixes cover issues like: data connection dropout, Bluetooth, random reboots, Wi-Fi autoconnect, MMS, Email/Exchange, Calendar, People/Dialer/Contacts, DSP, IPv6, VPN fixes, and other various bug fixes and security fixes.
We still have no idea when to expect the update, but the way the rumors are starting to come faster, it seems like there isn't too much time left to wait. Of course, the difference between how long Nexus users have to wait compared to the rest of the ecosystem is always something to consider.
source: Android Police