UPD: Sorry for long silence. Probably you can read a professional review soon. Or I will update this topic with answers to your questions, wait a little.
UPD2: Full professional review of this device will be ready tomorrow. Preview here: http://tech.onliner.by/2012/10/11/lg-google-nexus-3
UPD3: 360-degrees photos and some pics from its camera: http://tech.onliner.by/2012/10/11/google-nexus-4
PS. If you have something to discuss about this device - write me PM.
PPS. And yes, it has LED indicator))))