Just got mine. It has the same banding as shown in BigBake88's pic.
Debating whether or not to keep it....but what I find interesting is that the banding is NOT there in landscape mode. It makes me wonder if its an artifact generated from the display of the Home button when in portrait mode.
Ive had an AMOLED display for the last year or so (Fascinate) and it too has its own oddities.....particularly the matrix effect on the market background, which is where the banding is most obvious on the Gnex as well. It just seems to be something with that gray color.
Ive used the Dead Pixel Test and Voodoo Color Test apps, and the only thing that shows any banding is a light to medium gray. Black is pure black. White is pure white. Red, yellow, green, cyan, etc are all AMAZINGLY bright and vibrant and banding-free.
Ill play with the phone a little more and will most likely keep it if no other issues crop up. Messed around with it for an hour at work and had a rock solid stable 4G connection. Watched a couple 1080p vids on YouTube and the quality was amazing.
Dont really see the banding in normal operations (not even in the browser or Gmail app), so to me its about on par with my Fascinate that Ive never really worried about.
I think the biggest issue is this is one of those things that you cant UN-see, like the ghosting on my first big screen TV.......once I saw it, that was all I saw until I annoyed Toshiba enough to give me back my money
Forgot to mention: the only reason I didnt just turn around and get a new one is because I ordered from WireFly. While they would probably send me a new one without much trouble, Im not sure I want to chance activating the new one to see if it has issues, then deactivating it if it does and trying to get the first one re-activated (yes, I want to keep this phone)