Well, I finally caved and got a modern system for work. I had a 3DS but have gotten bored with it, and needed something portable, so I traded off the iPod 4g I picked up early this year and picked up a 3G PS Vita, a 16 GB memory card, and 2 games (Marvel vs. Capcom 3 as well as Metal Gear HD Collection). Since this forum hasn't had a lot of activity, here are my thoughts.
First this thing has an awesome screen. The 3ds is unique at first, but the OLED on this thing is so crisp. It's wonderful not just for games but streaming Netflix or Youtube on here. Unfortunately, its also a 5 inch screen, great for the eyes but bad for the size. This makes the controls slightly cramped and small when trying to cram on 4 buttons, a D Pad, and two analog sticks. It's playable, but definately smaller than what is comfortable.
Graphics are great on this thing. Prolly due to them using a quad core CPU and a second quad core GPU. Graphics do not a good game make, but still nice to look at.
One thing thats strange about this system is that it feels like a cell phone. It may be that most of the menus are driven through touch controls rather than buttons, but navigating the interface is very reminiscent of navigating your cell phone. There's also a few games that use touch controls on here, but most use standard controls. One odd one is Metal Gear HD, which uses the touchpad on the back of the system (the back supports touch input as well as the screen) for a few moves, possibly since the face has fewer buttons than the original PS2 controllers.
My verdict is that its a good system, marred by lack of good game selection and a steep price. Keep in mind that a memory card is a must and the prices are steep. My 16 GB card retails for 60, and the 32 GB for 99, which is insane considering you can get a Micro SD card for half or less of Sonys cost for its proprietary formats. They really need a price drop on their storage, and the system could use a 50 dollar drop for both models (the wifi only is 50 bucks cheaper)