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Should you wait for the mythical Motorola X Phone?

All the rumors and hype combined make the first big thing from Google and Motorola sound more like a unicorn than a smartphone.

Motorola X Phone can read your mind, claims the maker.

With the Samsung Galaxy S4 finally getting into the hands of some consumers, we must once again return to that persistent question that smartphone and gadget lovers never stop asking: what's next?

With word that Apple won't be releasing any new hardware until the fall and the HTC One and Galaxy S4 just released, the answer seems to be "not much" -- at least not for the next few months.

However, dancing on the far edges of the horizon in this summer's blockbuster smartphone void is a magical unicorn of a device whose legend grows stronger and more far-fetched with each passing day -- and with each hyperbolic comment loosed from Google Chief Executive Eric Schmidt's lips. I am speaking, of course, of the mythical Motorola "X Phone."

We're coming up on two years since Google bought Motorola Mobility, and the much-anticipated fruits of this acquisition will be "phenomenal" to hear Schmidt tell it.

Combine that kind of hype with the summer smartphone dearth and a general hunger for new mobile devices and we have the ideal breeding grounds for technological unicorns, the ridiculous consummation of a marriage of circumstances enabled by a full bar of rumor cocktails.

If we're to believe all the rumors -- and Schmidt's hype -- Google's first big Moto phone will (deep breath):

  • Predict the applications and commands you want to use and launch them for you;

  • always be in "listening" mode to be ready for your voice commands;

  • come with an optional wood exterior;

  • run Android 5.0.1;

  • come ready to connect to other fantasy devices, like Glass and a smartwatch;

  • have a touch-enabled button on the rear casing to launch commands;

  • not be a Nexus- or Droid-branded phone;

  • have an "unlockable" bootloader and SIM; and

  • have eight cores;

  • be heavily subsidized and offered at a relatively low price for a flagship device.

Seriously? Are we talking about a real-world phone here or Voltron?

"Combine your X Phone with your Google Glass, smartwatch, and Dragon rocket and join Elon Musk for brunch on Mars."

It's hard to imagine all these things coming together into a relatively cheap phone by the end of summer. Rumors this far out from the target date tend to move quite a bit and we could be seeing some deliberate leaks to test the waters, but really, who knows.

With Google I/O coming up, we soon should have some more information to gauge these rumors, but the question still remains: Is it worth waiting to buy a new phone in case it comes true?

It kind of depends where you are in your contract and your eagerness to upgrade. If you're looking to get into a new Android superphone right now, I say don't wait. The HTC One and the GS4 are as good as it's likely to get for some time. There's no guarantee the X Phone unicorn will ever gallop, particularly in the form described above.

But if, like me, you've still got more than six months left on your contract, I think it's worth waiting to see if unicorns really can fly.