As per subject — what is the best Android phone under $500 at the moment? If you are looking at getting an outright Android phone and have $500 to spend, which one would you choose and why? I assume $500 might not be able to get flagship models from big brands (Samsung, Sony, LG, HTC, etc). So it's pretty much choosing between last-gen flagship models, or current-gen 2nd best models. Or should I give top-spec Chinese brand a look, i.e. One+ Oppo Xiaomi, etc?
Note: I am actually not in the market looking for a new phone. I think I can probably get at least another 18 months from my trusty Nexus 4. However this post was mainly created to test the latest OzBargain poll feature, where commenters can submit their suggestions to be included in the poll. We'll see how it works so please put in your Suggestion and add your argument in the comments.
One example suggestion would be Sony Xperia Z1 16GB, which you can buy (grey-imported) for under $500 delivered. For example TopBuy sell them for $460 + $15 delivery at the moment.