Sleepy, go home, you're drunk.
Such an emulator will only be possible if the Vita is hacked. Sony would never be stupid enough to approve of such an app on their store.
Personally, I hope Vita never gets hacked when it comes to Vita games, but getting an emulator that would include DS, 3DS, Wii, Xbox, PSX, PS2 and PSP would be absolutely awesome. I just don't know if it's possible to hack a console only to such a small extend, but if it was - I'd go for it. And Sony wouldn't mind that much either, just think how many huge memory cards would they sell 
Wii U is a GCN 2 - I called it months before the release!
My Vita to-buy list: The Walking Dead, Persona 4 Golden, Need for Speed: Most Wanted, TearAway, Ys: Memories of Celceta, Muramasa: The Demon Blade, History: Legends of War, FIFA 13, Final Fantasy HD X, X-2, Worms Revolution Extreme, The Amazing Spiderman, Batman: Arkham Origins Blackgate - too many no-gaemz :/
My consoles: PS2 Slim, PS3 Slim 320 GB, PSV 32 GB, Wii, DSi.
