Much like with laptops, you don't really want to go cheap if you're gonna be getting a smartphone. And by cheap, I mean with outdated specs. The Spectrum is okay, but it's bleeding edge of about a year ago. Remember that you'll be locked into that phone for 2 years, upgrades window probably 20 months from now unless they've pushed that out too. Ask yourself, is this a phone I am going to enjoy using two years from now? Being new to the smartphone experience, you may not know the answer to this question. I liked LG dumbphones years ago, but from what I've seen, their smartphones aren't really wowwing anybody. I'm a Moto fan, personally. I like what they do, and they're a great fit for me. I know the tweakers are less enamored, and are more interested in the Galaxy Nexus for the pure unadulterated as-designed-by-Google experience.
It all really depends on what you want your phone to do for you. If you can wait, play with the S3 somewhere and see what you think. But most importantly, get the phone that's going to be the right fit for you now and into 2014.