I mean they love Resident Evil and handhelds. Could Resident Evil Revelations 2 be a system seller for the Vita in Japan? 

System seller no, better than PS4 yes, better than PS3 no.

160k possible?

Well we have to remember that the Vita version doesn't have a release date. It could come out in march, or it could come out in june. It could be physical or it could just be digital like the other systems. If it arrives really late, then no it won't do great. If it arrives only a month or 2 late and features a physical release then it will probably be the second highest selling after the ps3 version

I have a hard time to predict revelation 2 sales on any platform. I don't think we can compare with the first, as that started on a completely different platform. No idea.

Doubt it for a system seller sorta deal

Most RE fans in Japan own a PS3.

The game is coming to PS3.

Question, are we expecting alot from this game overall?

Very probable that it won't launch simultaneously with the other versions, so no.