Great cover
Good quality material, gives the phone a good grip, so it doesn't slide off surfaces and it's better to hold. Also an extra wight, since the N5 is really light.
The bumper around the edge is the right amount of thick, certainly making the phone very safe when falling on the floor, protecting the screen.
If there are any downsides, maybe it makes the headphone hole be a bit hard to use if you have have a thicker jack, like from a stereo. You might have to take cover off for those cases.
Overall, it's pretty good, if protection and grip is what you're looking for. Also, it looks pretty nice with the translucent back, since it shows the phone's nice design.