RPG Genre Discussion Thread

[StokedUp]

OK guys so im seriously thinking of buying a PS vita either today or this week. There's just a couple of questions ive got.
-will my CURRENT PSP games play on it? they are on the UMD discs. also a few downloaded ones or will i have to rebuy (which will be a killer). The ones im bothered about are Persona 3 portable(UMD) Valkyria chronicles 2(UMD) and Final Fantasy 7(download)
-can you transfer PSP saves over to the PSVITA?

Thanks my RPG buddies