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Looked at objectively compared to last gen handheld situation we have

PSV has touch screen, touch pad, accelerometer, second analogue, flash media over UMD (which were bulky and annoying) and of course the better specs over psp

3DS has 3D and better specs over DS

PSV is easier to program for and has better control options, 153 third parties are already developing for it on psv where 3DS 3rd party devs seem to be pulling out and on psv's launch the gab between the two systems will be 20 less then it was with DS and psp

all and all I think the psv will do better then psp and 3DS worse then DS despite the price cut, so while psv isn't the beat someone over the head obvious choice anymore I don't see any reason for Sony to panic