Don't do it. I was very unsatisfied with the sound on my Nexus 5 so I called Google. I got my replacement yesterday. After making a nandroid backup of my 1st phone and restoring it on my second, I can't believe the difference in the sound. I can now hear my ringtones and notifications. Youtube is loud and clear. I would recommend that anyone who got one of the early phones that has a volume issue like me get a replacement phone immediately.
Great guide. I wonder if you have an opinion about the speaker issue and the XDA mod with the 5? One of the features you take for granted in a phone is its sound quality. Everybody oohs and aahs about screen size and processor speed, but a seemingly insignificant and overlooked component, such as a speaker, can ruin a device. Do you think a software update can fix this, or should I consider the XDA mod.