In short: probably. Vodafone's price plans are nothing to write home about for a four month old handset with it coming free only on tariffs beginning at £35pm and lasting a full two years. For the record, that tariff comprises 600 minutes, unlimited texts, 1GB of data (which Vodafone describes as "staggering") and a 1GB monthly allowance on BT Openzone WiFi hotspots.
Yep, it's pretty snooze worthy, especially when upping your tariff to £45pm doubles monthly call time to 1200 minutes. A £75pm two year deal will provide a staggering 3000 minutes per month, but you'd be made to commit to a £1,800 layout for a phone which costs $529 (£342) direct from Google unlocked. Import duties? Just Bundle Box it.
On the flip side, the key differentiator for the Nexus One is it does ship with a completely vanilla version of Android meaning it can receive the latest firmware updates from day one and that certainly has great appeal to many (including me).
Should you decide to take the plunge, pre-orders for the handset will see Vodafone dispatch it to you from 30 April with 5 May the date for widespread store availability. If you need further info best check out my Nexus One first impressions.
In related news Android Central has taken a look at HTC's sadly US-only Incredible and found it has none of the multi-touch sensor irregularities seen in the Nexus One. If multi-touch is a big deal for you then make sure to check out the video below... just be warned about the 'Tiny Hulk' commentary about 50 seconds in!
Update: with a bit of digging it turns out the Nexus One is actually £5pm more expensive than the slightly more advanced, but oh so similar HTC Desire meaning that's the better bet.