Basically yes. You download the factory image from the link above and rhen follow jhawkkw excellent guide on flashing factory images here -
http://androidforums.com/threads/gu...us-factory-image-manually.706533/#post5702530
Read through it then scroll down to the nexus 5 and just follow the same directions that are posted for the LRX210 build but use the LRX22C instead.
If your on stock completely unmodified 5.0 LRX210 then you can download the OTA and install it.
Yeah that's true... Guess you really just don't know when for sure.
Look at almost every update, there's always Major buzz and chatter, anticipation and excitement!
When am I gonna get it? Am I gonna get it? Lol!!

Really I just figured it that way because I heard that the N6 had the majority of the bugs, so it would seem that it would get pushed to the newer devices first.