Lesson 1: That would be ignoring the success of almost every last one of PSP's multimillion sellers. Though In the case of PSP and PSV I personally would have taken a small hit in graphics for better battery life(Or mod you PSP and play games off the memory stick). When those console games cost practically nothing to produce(Sly and PSA:BR UMVC3 etc are great examples) why not have them to bolster the overall library? More games equals more options for consumers. So long as portable specific games are being made it isn't a bad idea. Not to mention you could have a MH situation where a console game finds a great new audience.
Lesson 2: Because of inflation $250 in '12 is about a 17.5% discount over $250 in '05. It has price parity with tablets that have lower specifications including most of the iPads and N7. $100 would have only gotten you 8 to 16 GB of storage for PSP. now it's 32 GB. That's a 2-4x increase discounting our 17.5% inflation. PSN is no Steam but they have done well to regularly mark down prices and get content to acceptable prices. They really are the most flexible of the big 3 when it comes to online business models with ftp games in Japan and MMO's etc.
Sony's only sins are that their developers are slower than molasses on a cold day(sans maybe ND, SM and SP) and that they aren't very passionate about portable games otherwise we would have games from those studios on Vita and that's why they don't make Vita a priority because thier major studios aren't very passionate about it. Having PS Suite ready before launch would have probably helped alot with smaller digital releases to help fill the gaps and niche gamer appetites. If all else fails port Android 4.0 or 4.1. Hardware will sell like crazy.
