Picked up a Vita yesterday with Virtua Tennis, FIFA and Need for Speed Most Wanted. Loving it, the vast majority of my gaming is on the iPad now (puzzlers, adventure games and physics type stuff) but obviously the lack of controls doesn't cater for sports titles too well, so the Vita has filled that hole nicely. The Vita, 3 games and 8gb card cost £230, and I traded in a whole bunch of Wii and 360 games I no longer play, which took it down to £130.
It has it's flaws, and 3hrs of use before it needs a charge is hard to stomach once you're used to an iPad, but purely as a gaming device it's top notch. I will only be using mine at home on the sofa/in bed, and my iPad is always there for web/email, so the vast majority of flaws are non issues to me.
As a bonus Playstation Plus was launched yesterday and it's a fantastic deal, £40 a year and you get 4 games per month free amongst discounts and other stuff, Uncharted, Gravity Rush, Chronovolt and Mutant Blobs are in month one, so you can easily cover your costs within the first month if you play through Uncharted and one other.