It depends a lot on how much money you're willing to spend.
The thing with the Vita is it is bleeding edge. $250 MSRP is deceptive when Sony memory cards are four times more expensive than SD cards. You can get a 3DS XL with a 64 GB SD card for less than the base Vita model.
It's a powerful system, to be sure, but you also pay dearly for that power.
Conversely, there's the PSP. The going price for used PSPs on eBay is about $50, and Gamestop offers refurbished ones for $70-90. If you try, you can load up a PSP with a good memory card and library for less than half of what you'd spend on a Vita.
Conclusion: if you've got the money or you plan on getting a PS4 and using Remote Play, help yourself to a Vita. The PSP is drastically better value, though.
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