I had an LG Nexus 4 and while it was spec'd nicely for the time, when the phone got hot it was very bad, and LG set the thermal throttle way too low on that phone. Have they since fixed that in this phone?
Edit the thermald.conf in /system/etc. I think thermal throttling was what kept resetting my frequencies back to 1728GHz with the OC'd kernel. As soon as I bumped the last 4 settings from 1728000 (1.7GHz) to 2106000 (2.1GHz) the problem was gone as far as I know. I also removed mpdecision so that may also be the culprit.