Google Nexus 4 is running smoothly on stock settings. However, it can be better by using custom kernel. Motley kernel for Nexus 4 is one of the custom kernels out there that you can try. Here are a few highlights of Motley kernel ~ CPU overclocking, voltage control, screen colour and gamma control. Of course, there are more useful features. Just take your time to explore them one by one.
I thought that I never install custom kernel on my Google Nexus 7. I was wrong after tried lot of custom kernels on Nexus 4. Yes, custom kernel does work better than stock kernel due to extra features, better performance, battery life and more… Motley Kernel for Nexus 7 is on the spotlight now. It is based on Asus / Nvidia / Google Linux 3.1.10. Able to overclock and undervolt CPU. Yes, you can overclock Tegra 3 GPU too. And other features like dynamic EDP, compiler optimizations , I/O schedulers, TCP congestion control, ZRAM, multiple governors like Interactive, Performance, OnDemand, PowerSave, Conservative.