My "real" account is the Argentina one because that's where I live, that's the one that has all my trophies and the one I play my games on.
There's no PlayStation Store in Argentina, so I also have a "fake" US account to download demos, videos, DLC, downloadable games, etc. I can play them in my real account too.
If I buy a PlayStation Vita, I'll have to make a choice:
1- Keep playing with my Argentinian account to keep all my trophies, but lose access to demos, downloadable games, DLC (What's the point of the Vita being region free, if you won't be able to buy DLC for all regions? lol well, at least you can play the games...), etc.
2- Start playing with my fake US account, but stop earning trophies in my real account.
I don't know what to pick... specially if God Hand can also be played on the Vita... I won't be able to download it or play it if I use my real account...
I hope they open a PS Store in my country so this stops being a problem for me :P... or allow multiple accounts like on PS3...
I wonder what formatting the Vita to factory settings does to the stuff you have stored in your Vita and the propietary memory card... imagine that even if you remove the card when formatting, it still won't read any of the content in it unless you register the same account you had in your Vita before the formatting.
I hope the PS4 doesn't do things like this :P