Recombu have posted this hands-on video for the Nokia Lumia 625. It shows the screen does indeed dominate the front of the device and that Nokia has done a good job minimizing the bezel.
Unfortunately it is also clear I think that Windows Phone 8 was not really designed to be blown up to those sizes, and could certainly do with another row of icons to the left. Even in the video I think the low DPI comes across.
On the other hand the handset appears to run as smoothly as one has come to expect from Windows Phone, and the video also reveals the good news that the handset will be released on all major UK networks, including EE, Vodafone, O2, Phones 4U and Carphone Warehouse, in September for £200 off contract, which seems a reasonable starting price.
See another hands-on video by Noknok.tv after the break, showing the removable shells and other design features.