First of all I would like to say L1520 is not a Phone but a Phablet - Phone+Tablet. The title of this discussion is due to the manufacturer is treating L1520 as a phone.
Secondly - I never said L1520 is a lower spec device. I repeat it is a fabulous device when it come to the hardware. The OS and applications needs to be tweaked to make use of this beautiful hardware as a phablet not as a phone.
My smartphone usage starts with Microsoft Windows Mobile 6 (imate). The last WM6.5 phone used was HTC HD2 ( i had dual boot of WM6.5 and Android in this device but never liked Android) and that is before switching over to L800 WP7.5 - you know what happened to the WP7.5 development but still been with Microsoft and then switch over to L820. Finally arrived in L1520.
Now coming to the point of topic...
As per Wikipedia....
In 2013, Nokia introduced phablets, the Nokia Lumia 1320 and Nokia Lumia 1520, both with 6-inch displays.
Examples of phablets with screens surpassing 6 inches in size began appearing in 2013; with the Chinese company Huawei unveiling its 6.1 in (150 mm) Ascend Mate at Consumer Electronics Show, and Samsung introducing the Galaxy Mega, a phablet with a 6.3 in (160 mm) version (unlike the Galaxy Note models, it does not use a stylus).[6][28][29] In mid-2013 the Japanese company Sony unveiled its 6.4 in (160 mm) Xperia Z Ultra; marketed as "the world's slimmest Full HD smartphone",[30] it is rated for IP55/58 dust and water protection and compensates for the lack of a bundled stylus by allowing users to take notes or draw on with a regular pen or pencil.[31][32] As a variation of the concept, Asus and Samsung also released otherwise small-sized tablets, the FonePad, Galaxy Note 8.0 and Galaxy Tab 3 8.0, with cellular connectivity and the ability to place voice calls.[33] In January 2014, Hewlett Packard launched their VoicePad products with 6" and 7" screens.[34]
Have a comparison of the in house apps provided by the manufacturer of Note 3 and L1520. I am not discussing of the paid store application though i bought a bunch of the paid applications like - WPCentrel, Advanced English Dictionary, Birthdays+, Handyscan, Moliplayer Pro, Nextgen Reader, Pocket File Manager, Polyscreen, Stop+Clear, Sysapp Pusher, etc..
I believe that apps like Handyscan is supposed to be an in house app of L1520 - not a developer one.
Look at the Stop+Clear - why we need this app if in house music app is able to self exit from the task-bar - i know this is not only for L1520 but for all WP's.
Look at Moliplayer - L1520 is being a phablet, the in house video app should be able to play all kinds of videos- again i know this is not only for L1520 but for all WP's.
Sysapp Pusher - I am glad that MS has given an option in store to check and update the installed apps - WP8.1 only
Not having a stylus - I understand that we don't need this as long as we can make it with finger tips.
May be i am feeling this because i do have an L820 phone which runs the same apps and WP8. The only difference i am feeling between these two (L820 being phone and L1520 being phablet) are L1520 screen size and camera!!! But, it is very worth to say that with L1520 Nokia / MS has done a pretty good job at the hardware and unique design, they bridged the gap between Phone and Tablet. The look and style is very appealing. Though it does not poses a stylus, it has a premium look and feel.
So the conclusion here is - This is the best phablet (hardware wise) that i have ever used. Love the look and feel. Specifically the battery is awesome - easily two days in 3G network with prolonged voice usage of 2.5 to 3 hours per day. My concern here is Microsoft needs to treat and develop L1520 as a phablet not as a phone as they do with SP. Hope I am loud and clear.
By the way - L1520 has glance as well compared to L930!!!!