Ok, so I took the leap of faith and went for the 1020 Black! Loving the WP8 experience so far, now i know what I was missing when I was on 7.5/7.8. I would like to thank you for the info. I went with the purchase now because of the following reasons:-
1.) Not a power user, so for me s400+ and s800 would have been the same.
2.)Even if i had waited, the flagships in 8.1 would have been delayed in getting launched in India. And even by the time they would have launched, something else would get announced. So it would've become a vicious circle!
3.) I was getting a good exchange deal on my L800, which I would not have gotten if it would've become 6 months older than it is right now.
4.) I would be upgraded to 8.1, none the less
5.) I love the camera on this phone!
So all in all that's why I made the jump