I personally recommend everyone who I'm trying to convince to got Windows Phone (on AT&T, at least), to go with the 925. While I personally have no problems with my 1020's bulk or camera bump, I know many others will. Granted, my 1020 is thinner and lighter than my former 900, and my Lumia 900 was my first smartphone, so I have not much to compare to.
Anyways, for most, the 925 camera will do just fine, and because they don't understand much about photography, they won't be able to get the most out of the 1020 camera anyways. Plus, aluminum, lightweight, awesome design, what's not to love about the 925?
Again, I really couldn't give two flying-fish about bulk on the 1020, but many other people are always striving for that thinner, lighter device. I also care about camera quality a lot more than the other stuff, so again, for me personally, point 1020. So while my friends think it's weird I recommend a phone different from the one I use, I still stick by it. Only downside: that 16GB storage sounds like it could be a crunch for many. Really wish Nokia would make a 32GB option for it.
(And note, while the Lumia 1020 does have 2GB RAM, 1 GB is reserved exclusively for the camera, meaning only 1GB is accessible by the system).