For all those comparing the Note to the Nexus I would like to throw in my two sense. I currently own the Galaxy Nexus and the Galaxy Note and I would like to give a comparison from build quality and ergonomics point of view and performance.
Ergonomics and design:
We all know the answer to this. The Galaxy Note has a large display so the ergonomics win would go to Galaxy Nexus. The Galaxy Nexus form factor is just amazing. I think its just about one of the sexiest phones ever made. The screen size is something I thought would be a problem but it wasn't that big of deal because for me the larger the screen the harder one handed use is and after about 4.3 (4:3 aspect ratio) you can't reach the left corner with the thumb of your right hand without shuffling the device in hand. Once that can't happen i think the screen size doesn't matter anymore.
This is a hard one to really compare since ICS isn't completely working on the Galaxy Note. I have installed it on my note for a few days to see how it ran. Most tech reviewers have said there is no lag on the Galaxy Nexus and I just see that as a bold faced lie. There is noticeable lag on the Nexus to the point it actually annoys me. The Galaxy Note on the other hand does have lag on third party launchers but not on touchwiz but I suspsect there is some sort of catch there that I'm not seeing. As an overall use standpoint I think the Note is just faster. I'm not annoyed with it on an everyday basis. It doesn't have same gusto as the Galaxy S2 (which i've also owned) but that is probably just based on it pushing more pixels. When the Galaxy Note gets ICS i think its going to be a much better experience than the Galaxy Nexus. I'm like 100% sure of that.
The Galaxy S2 was the best android experience I've ever had but there were only two flaws IMO and that was the lack of notification LED and low resolution screen. The Galaxy Nexus is the best form factor and aesthetic pleasing experience i've ever had on an android phone. The on-screen buttons just lead to a very nice looking device when off and when on. The curved screen, although slight, lead to a very nice in-hand experience as well as gorgeous look. That all being said the performance of the Nexus was abysmal after using the Galaxy S2. It might have been tolerable before I used that device. The Galaxy Note is an awkward experience as far as size but I have to say its still extremely enjoyable. The larger screen allows for more useful layout of widgets and icons.
My guess is the GS3 will be a combo of the note and the gs2 and will be the ideal phone for me.