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NGP won't be cheaper than 3DS. Sony's strength is their performance, so it will have to be much faster than the PSP and that means having better tech than the 3DS. This will be expensive and also lead to lower battery life than the 3DS, maybe similar to the original PSP.

Sony will be relying on PS3 ports and spinoffs, like the PSP did with the PS2, as I see no change in strategy from the executives' words. So unless you really like the PS3-exclusive lineup at the moment, it probably won't appeal.

The best thing for you would be to wait 2-3 years before buying either.