According to online postings made by Google employees it looks possible that the company has released internal versions of Android L for the Nexus 4. The comments are responses to bug reports filed against Chromium. In both cases the users mention testing various bits of Chromium functionality on Nexus 4 phones, running Android L.
Google has stepped forward to announce that they will enable device encryption by default in Android L. Taking user security a step beyond remote locate, lock and wipe as can be found now through the Android Device Manager.
According to SamMobile, Samsung is targeting a late November or early December release for Android L, at least for the Note 4 and Galaxy S5.
Material Design not only makes the UI more fluid, good-looking and simple, but also blends the experience across all devices and screen sizes.