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ithis said:
I don't see one "I think", or "in my opinion" anywhere...TzzTzz

I hope the opposite, the PSV will be a financial success and possibly even a sales increase over the PSP, and get more market share in the portable console space.
Also, I think that it will ever so slightly eat into the smartphones sales by convincing people (gamers) to buy a simple phone to use as a phone and PSV for games and what ever else there is. Actually, I know that, now that there is PSVita, at least one person wants one INSTEAD of a smartphone. Maybe even more that one?

Its an opinion piece... why should I have to overly state it?

There is no way people will want to carry two devices over one. Fact is, an average smartphone can do everything the PSV can and in almost every case, do it better AND they are cheaper.

Of course this is where the PSVs gaming content and controls can create its base, but at what price? My argument is that Sony won't be capable of doing what you wish in a mass market appeal. Only to a few niche consumers.

Nintendo can, but that's due to their focus on lower costs and more mass consumer appeal, especially younger consumers who likely won't even have smartphone options.

Your argument would be the same as if someone who had put Linux on their PS3 said they would not buy another PC. Even without Sony removing that feature, it simply didn't become reality. A smartphone will continue to be the mass market portable device. Sony needs to either move its portable gaming into that sphere or follow Nintendo's lead along with clearly identifying its portable gaming IPs. This attempt to straddle both markets is only going to fail.