If the rumour that it is coming out this year is true, I'm predicting it is MHP3G. I'm doubting it's a port of MH3G, as I suspect Nintendo have that on lockdown with the circle pad pheripheral and possibly localisation.

Knowing Capcom however, it could well be Monster Hunter 3: Special Championship Edition

Carl, now that you pointed it out, actually it might be that. Given a slight possibility that it might be MHP3G. 

Even if it does, the fact MH4 is 3DS exclusive is a massive blow to the Vita in Japan.

That might actually just be it. It also wouldn't violate any contracts with Nintendo since that version of the game was already released. (Obviously... Nintendo can't get exclusive rights for a game that wasn't on their platform in the first place).

Actually, Monster Hunter 4 was announced for 3DS only.

Wasn't Monster Hunter 3 Wii only?

They never said Monster Hunter 4 was exclusive to the 3DS. There's no doubt in my mind it will be coming out on the Vita at some point.

Yes and still is? Monster Hunter Tri is still Wii Only. Monster Hunter Tri G is for the 3DS and Monster Hunter 3rd Portable is for PSP and finally Monster Hunter 3rd Portable HD is for the PS3. 

@Jumpin, I don't remember 100% if they said 3DS only. 

Yeah, meaning monster hunter 4g vita.

No one said MHP4 wouldn't be on the Vita, infact that almost a given, however it will be some odd time after the 3DS version. 

Also you shouldn't be hyped for it, since the version will be slight upgrade from the 3DS version (Since usually the assets of portable series is based on the main numbered series) and will most likely will be how did you put it "definitely is not a step forward for the franchise".