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thb going Vita only would totally be a waste. The best thing would be to go multiplat.

Participating in the process of splitting the gamer community as a non-first-party-studio is totally stupid especially when the games are generic in terms of control input etc. Will a port be gimped gameplay-wise because system A lacks feature system B has and this feature is important for the game? if not go for it!

Seriously I would prefer having more money to buy more games than being forced to buy another console to play the exclusives I want to play.
(and when it comes to Sony the only exclusives I really care about are not first party. Its not that I dont own Uncharted etc but those games are clearly not the reason I buy Sony consoles. They are certainly not the reason people started to buy Sony consoles to begin with. It was because of exclusives like Square games etc..)

If it goes single plat I guess it would be the PS3. Ps4 would not make sense would result in a small userbase and would be to risky.  And since japanese games especially RPGs rely more on gameplay and charme than they do on horsepower it would not make sense.  In no way would Persona even use the full power of the PS3 so no chance for a PS4 exclusive release.